Anson Resources Ltd (ASX:ASN) (FRA:9MY) has started geological and geophysical surveys at the 100%-owned The Bull Project in Western Australia where it had previously confirmed the interpreted mafic-ultramafic intrusive complex.
The mafic-ultramafic intrusive complex is significant as it confirms that The Bull has a similar geological terrane as the nearby high-grade nickel-copper-PGE Julimar discovery made by Chalice Gold Mines Limited (ASX:CHN) (OTCMKTS:CGMLF) (FRA:C8U).
Anson has identified three major targets at The Bull measuring up to 1,400 metres in length and 800 metres in width and targets display early similarities to the Julimar discovery.
Anson’s executive chairman and CEO Bruce Richardson said: “Follow-up exploration work is now underway to further investigate the potential layered intrusive complex, 7 kilometres in length and 2.5 kilometres wide, identified in the Target 1 anomaly at The Bull.
“The drone mag and ground gravity surveys will be focused on the main Target 1 anomaly and data from these two geophysical surveys will produce high-resolution imagery for the interpretation of structural details and geometry within this target area.
“The Bull continues to shape as an exciting opportunity for Anson and we are prioritising exploration on this project area accordingly.
“We are continuing to follow the exploration pathway used by Chalice Gold Mines to define the Julimar nickel-copper-PGE discovery and look forward to providing further updates on our work programs in due course.”
Drone and ground surveys
The drone magnetic and ground gravity surveys will be carried out over the main target area on the same grid pattern as the rock chip sampling program.
Data from these two geophysical surveys will produce high-resolution imagery for the interpretation of structural details and geometry within the Target 1 anomaly.
Targets are believed to be part of a larger prospective nickel-copper-PGE mafic/ultramafic intrusive complex covering an area of 19.8 square kilometres.
The Bull Project is in the same geological terrane and about 20 kilometres south of the Julimar nickel-copper-PGE discovery.
Anson is following the ‘exploration pathway’ used by Chalice to discover Julimar.
The company is well-funded to complete near-term work programs at The Bull and at the flagship Paradox Brine Project in the US following a recent $2.4 million placement.
Anson’s strategic focus
Anson has a multi-mineral/multi-revenue strategy and The Bull Project is a key focus for the company’s base metal exploration portfolio in Western Australia.
While the Paradox Brine Project in Utah remains the company’s flagship, Anson plans to conduct further exploration activities at The Bull Project upon the exploration licence applications being granted, to potentially unlock further shareholder value from these assets.
With a renewed focus on nickel sulphide mineralisation and associated copper and PGE minerals, Anson’s WA portfolio holds significant potential and is in a favourable position to benefit from the renewed interest in these minerals.