- Anson Resources (ASN) spikes in early trade after kicking off some key electromagnetic work at The Bull project in WA
- The fixed-loop electromagnetic (FLEM) survey is designed to help Anson outline some key targets for drill testing later this year
- According to Anson, the survey will cover a deep chonolith body previously interpreted from a drone magnetic survey in the project area
- The Bull lies just 20 kilometres away from Chalice Gold Mine’s (CHN) Julimar nickel-copper-PGE discovery
- Shares in Anson Resources are up 6.85 per cent and trading at 7.8 cents each at 10:32 am AEST
Base metals explorer Anson Resources (ASN) has spiked in early trade after kicking off some key electromagnetic work at The Bull project in Western Australia.
The company told investors today it has started a fixed-loop electromagnetic (FLEM) survey over the project, which Anson is exploring for nickel, copper and platinum group elements (PGEs).
The survey will cover a 1400-metre-long, 500-metre-deep, and 500-metre-wide chonolith body previously interpreted by Anson from a drone magnetic survey in the project area.
Anson Chairman and CEO Bruce Richardson said the survey will help the company generate and refine key targets at The Bull for planned drill testing later this year.
“We have a clear exploration strategy in place, and from our work to date, The Bull has shown clear potential to host a large mineralised system,” Mr Richardson said.
“We are exploring in a highly sought-after address with Julimar only 20 km north of The Bull, so we are looking forward to rolling out our exploration strategy over the coming months.”
The Julimar nickel-copper-PGE discovery is owned by fellow ASX-listed Chalice Gold Mines (CHN). Anson said The Bull represents an “extremely exciting” exploration target given its proximity to the Julimar project.
Anson said the purpose of the FLEM survey is to identify important bedrock conductors within the project area. According to the company, the relatively shallow depth of the survey target means bedrock conductor plates could be the response of massive sulphide mineralisation.
The data generated from the FLEM survey will be reviewed alongside data from other geophysical surveys to help Anson outline future drilling targets and prepare a programme of works for the company to submit to the WA Department of Mines, Industry Regulations and Safety.
Shares in Anson Resources were up 6.85 per cent and trading at 7.8 cents each at 10:32 am AEST. The company has a $70 million market cap.