Anson Resources Ltd's (ASX:ASN) drone magnetic survey conducted at The Bull Project in Western Australia, has highlighted nickel-copper-platinum group element (PGE) prospects.
The company’s latest survey was completed over its wholly-owned project’s Target 1 anomaly at 100-metre line spacings, with data processed by geophysical consultants.
Interestingly, The Bull Project lies around 20 kilometres south of Chalice Mining Ltd’s (ASX:CHN) (OTCMKTS:CGMLF) Julimar nickel-copper-PGE discovery.
As a result, Anson is encouraged by the drone magnetic results because they demonstrate the potential for a fertile ultramafic layered intrusive system similar to that at Julimar.
Running of The Bull
Essentially, Anson used the drone magnetics survey to analyse the ovoid-shaped magnetic anomaly, which was interpreted in reprocessed historical aeromagnetic data.
The survey indicates the ovoid, or bullseye, appears to contain a series of magnetic high lenses and potential structural offsets.
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.
The results come just weeks after Anson’s application for exploration permit E70/5420 was granted for The Bull Project.
More broadly, however, both the geophysical interpretation and geological mapping programs indicate The Bull bears similar geology to Chalice’s Julimar discovery.
While the results are still considered early-stage, Anson has identified the steps it needs to take in the next stage of the exploration program at its nickel-copper-PGE project.
Moving ahead
Anson’s future exploration plans include a broad auger soils geochemical survey, with which it hopes to define the outline of anomalous soils at The Bull Project.
The company also intends to conduct a ground electromagnetic survey to determine the location of conductor plates — something that could confirm connected sulphides representative of copper and nickel (and possibly platinum and palladium) targets.
Beyond that, Anson wants to further fine-tune its drilling targets and prepare a plan of works for Western Australian government approval.
In the meantime, Anson continues to follow the exploration roadmap that led to Chalice’s Julimar nickel-copper-platinum group element discovery.
The ASX-lister will continue to update the market as these steps are completed.