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Anson Resources targets nickel-copper-PGE in low-cost exploration program at Hooley Well

Up to 22 metres at 0.97% nickel, 1.08% chromium and 0.06% copper, including 8 metres at 1.24% nickel and 1.17% chromium from 16 metres has been assayed at the project in limited shallow historic drilling programs.

Anson Resources Ltd - Anson Resources targets nickel-copper-PGE mineralisation at Hooley Well in exploration program in WA
Hooley Well has a similar magnetic signature to Chalice’s (ASX:CHN) Julimar high-grade nickel-copper-PGE discovery

Anson Resources Ltd (ASX:ASN) is set to begin a low-cost exploration program targeting nickel sulphide mineralisation across the Hooley Well Project in the Yilgarn Craton, Western Australia.

The company decided to undertake the program after a detailed in-house review of historical and recent exploration data revealed several compelling ‘walk-up’ exploration targets prospective for nickel-copper-PGE.

Historical geophysical image overlaying a filtered high amplitude aeromagnetic response over the Hooley Well tenements identified these targets, including three large magnetic targets.

Hooley Well is the third base metals project in Anson’s project portfolio in Western Australia with The Bull and Ajana projects targeting the ultramafic intrusives, on the margins of the Yilgarn Craton.

High impact exploration

Chairman and MD Bruce Richardson said: “After completing a detailed internal review of the Hooley Well project we were very encouraged by the identification of several compelling targets within the tenement which warrant follow-up.

“Given the nature of these targets, we are able to undertake a low-cost, yet potentially high-impact exploration program to investigate for potentially economic nickel-copper-PGE mineralisation.

“This program is highly complementary to the exploration work we have planned for The Bull Project, which is in the same district and is targeting nickel-copper-PGE mineralisation along the margins of the Yilgarn Craton.

“Our WA portfolio provides shareholders with exciting exposure to a strengthening base metals market, and these prudent exploration programs can be carried out in parallel with ongoing development work at our Paradox Brine Project in the US.”

Infill aeromagnetic survey begins

The company has started an infill aeromagnetic survey over Hooley Well to further define the mineralisation targets and once completed will develop a future exploration program.

Anson’s two Hooley Well tenements - E9/2218 (Erong Hill) which is surrounded by E9/2219 (Hooley Well) - were granted in 2017 and cover an area of 62 kilometres.

Hooley Well is 420 kilometres northeast of Geraldton in the highly prospective West Yilgarn nickel-copper-PGE craton.

Multiple projects in portfolio

Anson has two other projects in its portfolio targeting ultramafic intrusives on the margins of this province, Ajana and The Bull.

At Hooley Well, several high amplitude late-time conductors have been interpreted and ultramafic intrusions have been identified.

These may be caused by nickel-copper sulphides, but additional exploration is required is confirm this interpterion.

Additionally, Hooley Well has a similar geophysical signature to the Chalice Gold Mines Ltd’s (ASX:CHN) Julimar Complex discovery, which is within close proximity to Anson’s The Bull Project at Bullsbrook, WA, where Anson has recently started a low-cost exploration program.

Chalice’s Barrabarra nickel-copper-PGE tenements abut to the east of Anson’s Hooley Well Project and continue to the south.

Multi-revenue strategy

Anson has a multi-mineral and multi-revenue strategy and the work to be conducted at Hooley Well will provide additional opportunities for the development of Anson’s base metal exploration projects in Western Australia.

With renewed focus on nickel sulphide mineralisation and associated copper and PGE minerals Anson’s The Bull, Ajana and Hooley Well projects are in a good position to benefit from the strong interest in these minerals.

While the Paradox Brine Project remains the primary focus of Anson’s development program, Anson intends to conduct exploration activities at The Bull Project upon the exploration licence application being granted, while the permitting process and pre-feasibility study continue for the Paradox Brine Project.

Quick facts: Anson Resources Ltd

Price: 0.085 AUD

Market: ASX
Market Cap: $75.98 m

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