Fast-tracking Testing Of Positive Geophysical Targets
Copper and gold exploration company Native Mineral Resources Holdings Limited (ASX: NMR) has applied for three new tenements in south-eastern Western Australia.
Tenements E69/3852, E69/3850 and E69/3852 cover ~274 sq. km of ground in an area considered highly prospective for copper, gold and nickel mineralisation.
Recent government geophysical surveys have highlighted the potential prospectivity of these tenements. Data from new Magnetotelluric (MT) geophysical and seismic surveys highlights several targets that will be prioritised for initial exploration.
Managing Director, Blake Cannavo, said preparations are in progress to quickly test the geophysical targets using high-resolution geophysical methods and a targeted drilling programme once the application areas are granted. NMR is particularly excited as the general target areas have already been defined using existing geophysical data thereby speeding up the next phase of exploration.
Securing these key tenements will add to the pipeline of copper and gold projects currently being explored by NMR including near-surface copper opportunities along the almost 130km long, highly prospective Chillagoe Formation in Queensland and the growing, near-surface gold mineralisation at Music Well in Western Australia.
The tenements included here are all located under less than 200m of cover (interpreted from geophysics) and all host short term drilling targets.
“We are very pleased to have secured applications over these highly sought-after targets in the Nullarbor region of Western Australia,” Mr Cannavo said.
“These tenements complement NMR’s existing strategic focus and provide exposure to several well- defined areas that demonstrate the potential host copper, gold and nickel mineralisation. Following the release of new geophysical data sets from a recently completed government study, this area has been keenly contested and we are pleased to secure this footprint.
“Pending the granting of these tenements, our technical team has already commenced planning our initial exploration programs for the Nullarbor, with a particular focus on the targets above the MT anomaly which point to similarities with the Olympic Dam ‘Fingers of God’.
“NMR has a busy pipeline of work planned across our growing tenement portfolio over the coming months and I look forward to providing regular updates on exploration work from across our projects over the coming weeks and months as the field season continues in 2021.”
