GCX Metals (ASX:GCX) has identified multiple untested priority electromagnetic (EM) anomalies that require testing within its Dante Nickel-Copper-Platinum Group Elements (Ni-Cu-PGE) Project in Western Australia.
The $11 million market capitalisation company is planning to conduct drilling in early 2024 as the company’s airborne magnetics (AMAG) survey data has highlighted several key features for follow-up.
Further, high-resolution AMAG is expected to greatly assist with interpretation and drill targeting.
The company notes a new high-powered helicopter electromagnetic survey is being planned for areas of interest, being superior in identifying bedrock conductors due to increased penetration depth, higher signal-to-noise ratio, and improved resolution compared to lower power historical airborne electromagnetic (EM) techniques.
GCX Metals Managing Director and Chief Executive Officer (CEO) Thomas Line says the company has a lot of work to do following up these ‘high priority’ targets.
“Our technical team is confident that continued systematic exploration will yield additional targets to add to the pipeline of strong targets already defined.
We will continue our systematic approach to target definition at the Dante Project, including investing in the collection of new, modern datasets.”
The defined anomalies were uncovered via GCX undertaking a forensic review and reprocessing of extensive historical datasets from the project, which provided ‘strong’ indicators for Dante to host low magnesium oxide magmatic Ni-Cu-PGE sulphide mineralisation.
Some anomalies defined have had ground EM completed and are partially tested or have had historical drilling conducted nearby, which intercepted nickel and copper sulphide along with anomalous PGEs, gold, and cobalt.
GCX reports several anomalies are associated with strong surface auger geochemical anomalism, including several Geotem anomalies at its 7km long Cronus prospect.
The CEO says the detailed review at the project has shown its ‘remarkable potential’, with most targets untested and limited testing returning ‘encouraging’ signs of nickel, copper, PGEs, gold, and cobalt.
“The new high-resolution airborne magnetic dataset is the largest of its kind in the region, with the potential to aid in our process of unlocking hidden value in this frontier province.”
The Dante project contains ‘large-scale’ magmatic Ni-Cu-PGE targets and sits in the same geological complex and near BHP’s (ASX:BHP) Nebo-Babel mining development project.
GCX Metals is a diversified critical minerals explorer focused on developing its Western Australian assets.
As of 30 September 2023, the company had $2.820 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: GCX Metals
