Fraser Range Metals (ASX: FRN) has applied for two new explorations licences that are adjacent to its existing Plumridge Project in the Fraser Range region, Western Australia.
Licences E39/1731 and E39/1734 cover a total of 832 square kilometres of the highly prospective Fraser Range Zone, including the Fraser Range metamorphic belt, which hosts Sirius Resources' (ASX: SIR) Nova nickel discovery.
“These two additional tenements double the Company’s permit area in the Fraser Range province and will provide economies for exploration over a large and contiguous area,” managing director Simon King said.
“We are very excited about exploring for concealed nickel sulphide deposits in this area, particularly given the high success rate using geophysics to identify prospective geology and nickel deposits at the nearby Nova discovery.”
A recent 1,170 line kilometre VTEMmax airborne survey over a large part of the Plumridge Project had identified 28 targets.
This was commissioned to explore interpreted mafic/ultramafic rocks that form the Fraser Zone for anomalous EM responses that may be caused by accumulations of massive sulphides similar to Nova.
The initial interpretation has highlighted many target responses associated with the highly prospective Fraser Zone, as well as within the Salt Creek intrusives to the northwest.
A number of these are associated with higher magnetic responses interpreted to be due to mafic/ultramafic lithologies analogous to those hosting the Nova prospect to the southwest along the Fraser Zone.
High priority targets will be followed up with ground electromagnetic surveys.
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