Magnetic Resources NL (ASX: MAU) announced that the company would commence the exploration at Ni-Cu-PGE projects located east of Chalice Gold Mines Limited’s Julimar Ni-Pd Discovery in Western Australia.
The Julimar discovery in March 2020 had led to a massive pegging rush covering 30,000 sq. km.
Four projects near Julimar
Magnetic Resources said that it holds four separate projects totaling 322sq.km, starting from 90km out to 150km northeast of Chalice Gold Mines Limited’s Julimar Ni-Pd Discovery – Benjabbering E70/5537, Trayning E70/5534, Goddard E70/5538, and Korrelocking ELA70/5771.
The company said that these projects were selected based on aeromagnetic interpretation after noting the structural setting of the Julimar complex and the Gonneville mineralised discrete magnetic mineralised Ni-Cu-PGE rich intrusion.
The Julimar Intrusive Complex flags the existence of a new and unexplored West Yilgarn Ni-Cu-PGE Province along the western margin of the Archean Yilgarn Craton.
Benjabbering project
MAU reported that the 111sq. km Benjabbering Project has a large 25km long sinuous aeromagnetic pattern that trends in a NE and N direction and is very similar to the Julimar trends and structures.
The company said that aeromagnetic interpretation had identified several thickened zones, representing possible feeder areas for potential Ni-Cu-PGE mineralisation.
MAU said that the bedrock geology at Benjabbering was mapped as comprising a series of granitic rocks ranging including biotite granite, and granodiorite plus more metamorphosed rocks such as banded and tonalitic gneiss.
However, bedrock outcrops were sparse, most of the area being covered with Quaternary eolian, alluvial, and colluvial deposits overlying Tertiary sand and rare laterite. The sinuous aeromagnetics was interpreted to be caused by a mafic unit under cover.
Magnetic said that these target areas will be followed up in the field with initial roadside drilling and subsequent more detailed AC drilling after access agreements with landowners are finalized.
Trayning tenement
The 68sq. km Trayning tenement cover a broad series of NE-trending magnetic zones, crosscutting the NS Archean fabric further to the east. MAU reported that in several locations, there were linear features containing distinctive magnetic highs up to 2km in length representing possible ultramafic feeder zones prospective for Ni-Pd.
The company said that access has been sought for shallow drilling.
Goddard tenement
The 70sq. km Goddard tenement contains a pronounced inverted U-shaped magnetic zone in the eastern part of the tenement, which could be a possible fold structure.
The company said that several areas will be initially tested with roadside drilling followed with more drilling after access agreements are finalized.
Korrelocking tenement
The 73sq.km Korrelocking tenement covers a pronounced 2km-long E-W trending magnetic anomaly, which may represent an ultramafic feeder zone prospective for NI-Pd. The company said that there were also numerous localized EW dykes located here. This 2km EW target may be exploiting reactivated older structures that may have influenced or controlled the intrusion of Julimar-type mafic-ultramafic bodies.
MAU said that an initial AC drilling was recommended over the road verges that are along the 2km long EW magnetic anomaly, which is under cover.
Management comments
MAU’s Managing Director George Sakalidis said: “With this amazing 30,000 sq.km pegging rush for Julimar tyle Ni-Cu-PGE mafic-ultramafic complexes, Magnetic has picked up 322 sq km of ground with some excellent targets.
The Benjabbering Project has a very large 30km sinuous aeromagnetic target that has similar shape and structure as the Julimar intrusive and has never been drill tested.
Numerous discrete large-scale targets identified over Magnetic’s three granted projects will be initially drill tested along road traverses followed by more extensive drilling when access agreements are finalized with local landowners.
Magnetic’s HN9 and Lady Julie Projects remain the company’s primary focus after 20,000m of drilling has been completed in the last 3 months with assay results pending.”
Image Source: Magnetic Resources NL