Anson Resources Ltd (ASX:ASN) (OTCMKTS:ANSNF) (FRA:9MY) has been granted The Bull Nickel-Copper-PGE Project tenement E70/5420, which abuts Chalice Mining Ltd’s (ASX:CHN) (OTCMKTS:CGMLF) tenements and is 20 kilometres south-west along strike of the Julimar Nickel-Copper-PGE high-grade deposit.
The magnetic signature at the Bull is underlain by magnetic features that are similar to what is seen at the Julimar discovery.
Based on the reprocessed historic and wide-spaced aeromagnetic surveys, the dimensions of the feature are about 1,600 metres x 400 metres.
The company has started land access discussions with landowners, enabling a reconnaissance geophysical program to begin.
The geophysical survey consists of an airborne drone magnetic survey and a ground gravity survey.
Drone magnetic and ground gravity survey
The drone magnetic and ground gravity survey interpretation will produce high-resolution imagery to demonstrate the distinct internal character of Target 1 magnetic anomaly at The Bull, showing the internal features of the ovoid-shaped anomaly.
In addition, using the geophysical data collected, an aeromagnetic inversion 3D model can be created to define the geometry of the intrusive in three dimensions.
On completion of land access agreements and the surveys, an auger soil geochemical program will be planned at the Target 1 anomaly to determine the source of the strong magnetic response.
The Bull Project
The Bull Project is interpreted as a layered intrusive complex on the western edge of the Yilgarn Craton.
The anomaly is an ovoid-shaped, relatively discrete and strongly magnetic target along the strike of the Julimar high-grade discovery.
The region is mainly undercover and had not been previously explored for Nickel-Copper-Platinum Group Elements (PGE).
The Julimar mineralisation, which remains open in all directions, could point to a regional scale discovery, including The Bull Project area.
Based upon the presence of similar magnetic signatures and the lack of the previous exploration, it is considered that The Bull Project is highly prospective for Platinum Group Elements (PGE)
as it could host extensions or repeat of similar orebodies discovered at Julimar.
Anson’s strategic focus
While the Paradox Brine Project remains the primary focus of Anson’s development program, it intends to conduct exploration activities at the Bull Project, now that the exploration licence has been granted.
Anson has a multi-mineral/multi-revenue strategy, and the acquisition of the Bull Project adds to Anson’s existing base metal exploration projects in Western Australia where exploration activity is continuing.
The Ajana project has previously had soil sampling programs completed, showing large lead-copper-zinc-silver anomalies.
Assay results for a previous drilling program at Hooley well show nickel-chromium-cobalt mineralisation.