Albion Resources (ASX:ALB) is lining up a program of rock sampling at both the Red Well East and West prospects, as part of its wholly owned Mongers Lake Project in Western Australia.
Albion, which has a $4.24 million market capitalisation, says rock sampling is being planned following a ground electromagnetic (EM) survey, which identified several bedrock conductors at both prospects.
At Red Well East, 2 ‘large’ conductors at least 400m by 200m in dimension with moderate to high conductance that occur coincident with ‘highly elevated’ gold-copper-silver-zinc-in-soil.
Meanwhile, at Red Well West, 4 discrete conductors that range in dimensions from 100m to 150m by 35m to 60m with moderate to high conductance have been unearthed coincident with important nickel fertility ratios in soil.
According to Albion, the geochemical signatures associated with bedrock conductors at Red Well West support potential for volcanic massive sulphide-style copper, gold, and base metal mineralisation similar to the Golder Grove deposit.
The same signatures at Red Well East support potential for magnetic-style nickel-copper-platinum group metal deposits. These new targets sit within the ‘richly endowed’ Yalgoo-Singleton Greenstone.
Albion Resources is a base metal and gold explorer with assets in Western Australia.
Write to Adam Drought at Mining.com.au
Images: Albion Resources
