Anson Resources Ltd (ASX:ASN) has identified a potentially large layered intrusive complex which could if proven increase the nickel-copper-platinum group elements (PGE) prospective area to 19.8 square kilometres at The Bull Project in Western Australia.
The discovery was made after the company completed a small ‘ground-truthing’ program and further geophysical interpretation over the three major targets within the project.
The complex is 7,000 metres in length and extends into the tenement recently pegged by Anson.
Shares have been as much as 36% higher to 4 cents intra-day.
The Bull anomalies are displaying early similarities to the high-grade Julimar nickel-copper-PGE discovery made by Chalice Gold Mines Limited (ASX:CHN).
Due to the open nature of the Julimar deposit and the absence of previous drilling at The Bull, Anson believes it is highly prospective for nickel-copper-PGE mineralisation and has the potential to host an extension or repeats of a similar polymetallic ore body.
The Bull Project showing the interpreted layered intrusive complex overlying a TMI image.
While the Paradox Brine Project in Utah remains the company’s flagship project, Anson plans to conduct further exploration activities at The Bull where the company could benefit from renewed focus on nickel sulphide mineralisation and associated copper and PGE minerals.
The company is now planning a low-cost exploration program to test this new target which will include drone magnetic and ground gravity surveys, geological mapping and rock chip sampling.