Western Australian critical metals explorer, DMC Mining Limited (ASX: DMM) has acquired a new project in the Fraser Range region.
Exploration Licence EL 28/3260 is a large exploration licence comprising one EL application totalling ~112 sq. km. The Project is held by Isker Mining Pty Ltd, a 100% subsidiary of DMC Mining Limited.
“The Fraser Range is a world class critical metals province and this acquisition further cements DMC as one of the key explorers in the region,” Executive Chairman, David Sumich, said.
“We look forward to progressing this Project to granting and then leveraging our existing skills and experience to advance exploration.”
Key Points and Acquisition Rationale
• Opportunistically secured a Project prospective for critical metals (Ni & Co).
• DMC can leverage existing technical skills and expertise to advance exploration (should it proceed to granting). Ground exploration is ongoing on nearby DMC tenements.
• The Project adds to DMC’s already large tenure in the Fraser Range of 10 granted tenements totalling ~880 sq. km.
• $1,660 paid in non-refundable application fees (to DMIRS) upfront to secure the tenement package. DMC holds 100% interest.
• The Project sits within the Fraser Zone of the Fraser Range region, home to world class deposits such as Nova – Bollinger.
• Exploration model is for a range of mineral deposit styles, including:
a) magmatic Ni – Co – Cu mineralisation, as exemplified by the Nova – Bollinger nickel- copper cobalt mine;
b) orogenic gold mineralisation;
c) intrusion-related gold mineralisation; and
d) polymetallic sedimentary exhalative and volcanogenic massive sulphide mineralisation
• Magmatic nickel and cobalt sulphide orebodies frequently occur in clusters globally. Thus far there are only two discoveries in the Fraser Range and a large number of mineral occurrences.
