Pallas PGE-Ni-Cu Target

Highlights

  • Tenement considered very prospective for gold and ultramafic-hosted PGE-Ni-Cu targets
  • Isolated historic RC drilling intersected up to 78 ppm Pd+Pt at bottom of hole, within 44 m @ 0.18% Ni to 90 m depth, associated with anomalous Cr, Ti, Cu, and Au
  • Drilling of priority targets to commence on obtaining all necessary approvals

The Company has undertaken a review of historic open file data and identified targets for gold exploration adjacent to the historic Ryansville, Ulysses and Hercules prospects.

In addition, base metal exploration completed by CRA Exploration Pty Ltd (CRA) targeting possible repetitions of the Mt Mulcahy-style VMS mineralisation culminated in the drilling of two holes on E20/953.  A single vertical 90 m deep hole (83WRR3) targeting a magnetic anomaly at Poona North intersected significant PGE-Ni mineralisation.

A diagram showing a cross section with mineral intercepts
Cross Section of 83WRRC3
Location of Ultramafic Targets, Kennecott EM anomalies and historic CRA Pty Ltd RC drilling overlain on regional magnetics

Next Steps

The Company intends to conduct field reconnaissance activities as soon as low impact exploration clearance is available. Reprocessing of detailed open file and purchased air magnetic datasets will be completed and if warranted, followed up with Airborne VTEM surveys over selected targets. These activities will support further geological understanding and assist in planning for target drill testing of these and additional priority targets outlined to commence immediately after necessary clearances are obtained.