Shree Minerals Ltd (ASX:SHH) has secured highly prospective tenements within the Laverton Province in Western Australia as part of its business development activity.
This province is known to contain some 30 million ounces of gold, making it the second highest endowed gold district in Western Australia behind Kalgoorlie.
The Laverton gold district is also the highest growth gold district in Australia over the last 25 years. The region hosts several important gold and nickel deposits including Sunrise Dam (>10Moz), Wallaby (> 8Moz), Granny Smith (>2Moz, closed) and Lancefield (>2Moz, closed), Windara Nickel (combined 85K tonnes nickel sulphide).
Lynas Rare Earth also operates the Mt Weld Rare Earth Element (REE) operation only two km to the south of Shree’s application.
Highlights:
- 100% interest in seven tenement applications occupying an area of 6,600 ha in the highly endowed Laverton District.
- Excellent opportunities for discovery near operating mills.
- Compelling under-cover gold and nickel targets identified.
- Exploration Licence Application E38/3697 is located only two km to the north of Lynas Rare Earth Ltd’s Mt Weld Carbonatite REE complex.
The Laverton Project consists of seven tenements. SHH has identified a series of very prospective under-cover gold and nickel mineralisation drill targets within the tenements. The targets have been generated through an integrated approach using detailed interpretation of aeromagnetic and gravity images, historical exploration drilling programs and the mineralisation models developed from the neighbouring world class gold deposits.
Next Steps
1. The company is actively pursuing the process to enable grant of the tenements which include negotiation of access agreements with concerned parties, heritage agreements with regional native title parties etc. The Company expects the tenements to be granted in 2023.
2. Desk top studies to firm up exploration plans.
For further information please visit: https://shreeminerals.com/
