Lycaon Resources (ASX:LYN) is on the hunt for another ‘Savannah North-type’ discovery as it begins a nickel-copper diamond drilling program at its Bow River Project in Western Australia.
The company, which has a $12.65 million market capitalisation, says drilling is scheduled to take about 4 weeks to complete and comprises 2 diamond drillholes.
These holes are each expected to be completed to a depth of 800m and have been designed to test a ‘large’ gravity anomaly defined in geophysical surveys that remains untested at depth.
Lycaon reports this anomaly is located down-plunge from historical ‘high-grade’ nickel and copper mineralisation.
The company notes downhole electromagnetic surveys will also be completed post-drilling with hopes of defining if conductors are present that have the potential to be related to massive sulphide nickel-copper mineralisation.
Speaking on the start of drilling, Lycaon Resources Technical Director Thomas Langley says: “We have now begun a high-impact diamond drill program which will be critically important to understanding if a large-scale nickel-copper sulphide deposit exists at Bow River. The drilling is targeting another Savannah North-type discovery, which opened up the prospectivity of the Kimberley after its recent discovery in 2014.
“The drilling is targeting another Savannah North-type discovery which opened up the prospectivity of the Kimberley after its recent discovery in 2014“
No drilling at Bow River has occurred since this time, and given the high-grade nickel and copper intersected in historical drilling in the past, we are of the view that Bow River presents as one of the best magmatic nickel-copper targets in Western Australia currently.
The Marlarngowem traditional owners of Bow River were instrumental in completing the heritage surveys, and I thank them for their help and cooperation.”
Lycaon Resources is an ASX-listed explorer focused on making discoveries in the West Arunta and Kimberley regions of Western Australia.
The company’s Bow River project is located within the Halls Creek Orogen in the East Kimberley region of Western Australia and covers 2 known nickel-copper-cobalt sulphide prospects mapped as the Salt Lick Creek intrusion and the Bow River intrusion.
Both intrusives are interpreted to be sulphide-bearing and similar in style and setting to Panoramic Resources’ (ASX:PAN) Savannah mine.
Write to Adam Drought at Mining.com.au
Images: Lycaon Resources