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Nelson Resources seeks JV partners to build on exploration success at Woodline project

Snapshot

Most projects are in WA’s Eastern Goldfields which contains substantial greenstone belts considered highly prospective for gold mineralisation.

Nelson Resources Ltd - Nelson Resources seeks JV partners to continue Woodline exploration success

Quick facts: Nelson Resources Ltd

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ASX:NES
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Nelson Resources Ltd (ASX:NES) is seeking joint venture partners to help build on the exploration success it has achieved at the Woodline Gold Project in WA’s Goldfields following the recent consolidation of the project.  

During the September 2019 quarter, the company applied for an additional 201 square kilometres within the Albany-Fraser Range which includes a substantial portion of the historic SIPA/Newmont Woodline project.

If the Morris prospect is granted the company will have reconsolidated 858 square kilometres of the Woodline project.

Nelson’s projects are within the Eastern Goldfields Superterrane of the Yilgarn Craton, which contains substantial greenstone belts, considered highly prospective for gold mineralisation.

This area is one of the most gold-endowed regions in the world and all Nelson tenements are nearby to some of WA’s largest gold mines - Paddington (7.4 million ounces), Kanowna Belle (6.4 million ounces), Sunrise Dam (15 million ounces) and Sons of Gwalia (6.8 million ounces).

The 20-kilometre geochemical gold anomaly within the Woodline tenure

Woodline projects

The company’s flagship Woodline project is made up of a total of 656 square kilometres of tenure with four individual projects being Socrates, Grindall, Redmill and Harvey with the later three each having the potential to host a Tropicana-scale gold deposit.

This project lies 90 kilometres southeast of Kalgoorlie and halfway between the Trans Australia Rail line and the Eyre Highway.

The company has also recently applied for tenure in the Fortnum area.

Historical expenditure by previous explorers and Nelson within the Woodline Tenure amounts to approximately $14 million, which includes 1,556 metres of reverse circulation (RC) drilling and 789 metres of diamond drilling.

September quarter work

As well as continuing to increase its tenure holding in the Albany-Fraser Range and its consolidation of Woodline, during the September quarter, Nelson carried out work at the Redmill tenement where tenure has been granted and at Harvey tenement where tenure is pending.

At Redmill the company continued the desktop review of the extensive data set it has for this tenement.

Based on the data the company has reviewed, it continues to plan its next aircore/RC drill program based on the tenure now being granted.

At Harvey, the company began a review of the extensive data set it has for this tenement.

Nelson has identified numerous gold drill targets and some exciting nickel anomalies it believes are worth pursuing because the anomalism is proximal to Independence Group NL’s (ASX:IGO) Nova Nickel Project. 

The company intends to run a geophysics campaign in the next quarter to better map the geology at this project and at all of its Woodline tenure. 

Fortnum project

The Fortnum project tenement was granted within the September quarter and totals 21 square kilometres. 

This project is within the Peak Hill Mineral Field, 140 kilometres northwest of Meekatharra and about 14 kilometres southwest of the Fortnum Mining centre, in the locality of Billara Bore.

The geology of the tenure consists of a fault-bounded package of schists derived from the Narracoota and Labouchere Formation constrained by the Despair Granite to the east and Yarlarweelor Gneiss complex to the West.

Thin surficial cover extends over the area, with strong insitu regolith development in the eastern parts of the schist, adjacent to the Despair Granite.

There are four gold mineralisation prospects on the tenure.

Billara A, Billara North and Billara South are associated with quartz veining in highly sheared mafic schist adjacent to the contact with the Despair Granite.

Billara D is associated with quartz veins in a NNE-trending, biotiterich schist, the Despair Granite, analogous to the Wilthorpe gold mine, 9 kilometres to the south.

During the September quarter, the company commenced a desktop review of the data it has for this tenement.

Nelson has identified several potential drill targets it believes will improve the understanding of the geology of the project and add to the work done by previous explorers.

Other projects

At Happy Jack project, the company has a retained 1% net smelter royalty on any future gold production.

Nelson also has the Wilga Well and Yarri projects at which no activity was carried out during the September quarter.

Wilga Well's close proximity to AngloGold Ashanti’s (ASX:AGG) Sunrise Dam and some significant historical drilling results indicate the project justifies new geophysics work and drilling.

The tenement has at least three geochemically anomalous areas, one that corresponds to historical workings, while the other two have received little consideration.

Drilling beneath the old workings is shallow, and the potential at depth remains largely untested.

Yarri project

The Yarri project is 160 kilometres northeast of Kalgoorlie and is 30 kilometres north of Saracen Mineral Holdings Limited's (ASX:SAR) Carosue Dam Mine and 7.5 kilometres east of the Porphyry Mine. 

Yarri consists of three prospects to the north and east of the historical Yarri State Battery site. 

Nelson’s main focus is on the Wallaby line of workings immediately to the east of Yarri, where recent drilling by the company has returned a number of high-grade encouraging drill intersections.

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