viewAnson Resources Ltd

Anson Resources up 25% on identifying three major targets at The Bull Project near Chalice discovery

The Bull Project is surrounded by Chalice’s Gonneville tenements, only 35 kilometres from Perth with access to all major infrastructure requirements such as major roads, rail and power.

Anson Resources Ltd - Anson Resources identifies three major targets at the Bull Project in WA
Further interpretation is being conducted aimed at increase the number of targets over the entire project area

Anson Resources Ltd (ASX:ASN) has been as much as 25% higher after identifying three major targets at The Bull Project in Western Australia, which adjoins the high-grade Julimar nickel-copper-PGE discovery made by Chalice Gold Mines (ASX:CHN).

These new targets, which are up to 1400 metres in length and 800 metres in width, will be tested in a rock sampling program targeting nickel-copper-platinum group elements (PGE) mineralisation.

Results of the sampling are set to guide a systematic geochemical sampling program and ground electromagnetic survey to provide future drill targets.

Geophysical consultants were engaged to complete magnetic, radiometric and digital terrain data processing of open file geophysical data.

Magnetic targets are being interpreted for geological and geochemical testing.

Shares have increased by as much as 25% to 4.5 cents intra-day.

Electromagnetic surveys

Rock chip samples from outcrop and sub-crop will be collected from topographic highs.

Other areas in the tenement comprise paddocks with little to no outcrop, but float and sub-crop which can be sampled.

Following the sampling program, a series of ground electromagnetic surveys will be completed with a view to identifying EM conductors for future drill testing.

The expected timeframe for the initial field exploration program is dependent on permitting but data compilation, geochemical sampling and some geophysical surveys can be completed.

Multi-mineral strategy

Anson has a multi-mineral and multi-revenue strategy with the acquisition of The Bull added to Anson’s existing base metal exploration projects in Western Australia where exploration activity is continuing.

More broadly within the portfolio, Anson’s Ajana project has previously had soil sampling programs completed showing lead-copper-zinc-silver anomalies.

Assay results for a previous drilling program at Hooley Well show nickel-chromium-cobalt mineralisation.

While the Paradox Brine Project in Utah, USA, remains a core focus of Anson’s development program, exploration activities are planned at The Bull upon the exploration licence applications being granted, to potentially unlock further shareholder value from these assets.

Quick facts: Anson Resources Ltd

Price: 0.032 AUD

Market: ASX
Market Cap: $25.07 m

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