viewMarquee Resources Ltd

Marquee Resources starts aggressive exploration push at new gold and nickel project

The company is planning to undertake a multi-phase exploration program that will test a series of ready-to-drill targets that have been developed by a detailed internal targeting exercise at the project.

Marquee Resources Ltd - Marquee Resources starts aggressive exploration push at new gold and nickel project
The West Spargoville Project consists of 80 square kilometres of highly prospective tenure

Marquee Resources Ltd (ASX:MQR) has delineated a number of high-priority gold and nickel targets for drilling at the recently acquired West Spargoville Project in Western Australia’s goldfields region.

The targets were identified after compiling an extensive historical surface geochemical database and reviewing all available drilling, geophysical and geological data.

Exploration will begin imminently with 4,000 metres of reverse circulation (RC) drilling planned, budgeted and permitted for completion in 2020.

West Spargoville Project

The West Spargoville Project is an unexplored 80 square kilometre tenure in a tier 1 gold and nickel jurisdiction, 20 kilometres southwest of Kambalda.

West Spargoville project sits adjacent to the Wattle Dam gold deposit, which was one of Australia’s highest-grade gold deposits, and produced 275,000 ounces at 12.5g/t gold.

The company has prepared an extensive surface geochemistry database with about 5,000 data points within the project area, made up of predominantly auger soil samples.

Marquee believes a more targeted exploration strategy is required with deeper, closer spaced drill holes required to effectively test for bedrock mineralisation and close in on the source of the surficial anomalism.

Number of targets identified

Marquee executive chairman Charles Thomas said: “We have identified a number of excellent targets and are excited to get to work and start drill testing them.

“Given the vicinity of the project and a long history of prospecting and artisanal mining, the fact that very little drilling has been completed over the project is quite incredible.

“It has been a busy few months for the company and we are excited as we look to kick off our maiden West Spargoville drilling campaign.”

Well-funded and fully permitted to begin exploration

The company has prepared an exploration strategy and forward work program, which focus on targeted exploration to methodically test currently defined targets while assessing additional opportunities within the West Spargoville Project.

Marquee is well funded and fully permitted to begin a focused exploration push and a 4,000 metres RC drilling program is planned and budgeted for completion by the end of the year.

The imminent drilling program will mark the first phase of a multi-phase exploration strategy that Marquee plans to execute over the next 12 months.

Quick facts: Marquee Resources Ltd

Price: 0.074 AUD

Market: ASX
Market Cap: $7.76 m

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