- Anson Resources (ASN) confirms the geophysical interpretation of an intrusive complex at The Bull Project in Western Australia
- Geological mapping and a geochemical sampling program were undertaken to “ground truth” the mafic-ultramafic intrusive interpretation
- ASN recorded anomalous values for nickel, copper, platinum and palladium, and believes the magnetic anomalies identified are a part of a mafic-ultramafic intrusive system
- While the company says there is still a lot of work to be done, it is encouraged by the early results which are similar to the nearby Julimar discovery
- Shares have been trading 4.11 per cent higher at 7.6 cents at 10:21am AEST
Anson Resources (ASN) has confirmed the geophysical interpretation of an intrusive complex at The Bull Project in Western Australia.
The project is comprised of two tenement applications which are wholly owned by Anson Resources through its subsidiary State Exploration.
The latest results come from geological mapping and a geochemical sampling program completed across the area, which was designed to “ground truth” the mafic-ultramafic intrusive interpretation, and collect some rock chip samples.
A total of 89 rock chip samples were collected from Target 1 at The Bull, with the company recording anomalous values for nickel, copper, platinum and palladium.
ASN said sampling confirmed anomalous mineralisation and identified mafic and ultramafic samples located within the area interpreted in the 3D model.
Additionally, the company believes Target 1 is part of a larger prospective mafic / ultramafic intrusive complex.
While work at the project is in its infancy, the company is encouraged with the early findings which are said to be similar to Chalice Mining’s (ASX:CHN) Julimar discovery.
Anson’s Executive Chairman and CEO, Bruce Richardson, said there is still plenty of work to be done however the company is “very pleased” with the results from the geological mapping and rock chip sampling.
“We continue to build our knowledge and geological understanding of The Bull as we move quickly towards defining a set of targets for our maiden drilling program later this year.”
As announced last week, ASN is undertaking electromagnetic (EM) work across the project with the aim of identifying EM bedrock conductor plates which it predicts could be the response of massive sulphide mineralisation.
Shares were trading 4.11 per cent higher at 7.6 cents at 10:21am AEST.