- Cauldron Energy (CXU) kicks off a 10-day EM survey with UTS Geophysics to observe high-priority targets at its Melrose project in Western Australia
- Melrose lies near the western margin of the Yilgarn Craton and is 125 kilometres north of Chalice Mining’s (CHN) Julimar project
- Magnetic inversion modelling previously defined large anomalies at these targets, which lie directly below shallow nickel and copper historical air-core drillholes
- Cauldron hopes to achieve similar or better results to that of NickelX (NKL), which found strong basement-hosted anomalies, consistent with massive sulphide mineralisation
- CXU shares last traded at 0.6 cents
Cauldron Energy (CXU) has commenced an electromagnetic (EM) survey in collaboration with UTS Geophysics to investigate high-priority targets within its Melrose project located in Western Australia.
Melrose is situated near the western edge of the Yilgarn Craton, positioned 125 kilometres north of Chalice Mining’s (CHN) Julimar project.
Utilising magnetic inversion modelling, significant anomalies have been identified at these designated targets, which are situated directly beneath shallow high-grade nickel and copper historical air-core drillholes.
In total, Cauldron’s EM Survey is set to cover 321-line kilometres, aiming to enhance the definition of existing targets and aid in the identification of new prospects for upcoming drilling efforts.
The expansive Melrose project encompasses 1507 square kilometres, representing the largest continuous nickel-copper-PGE prospective landholding in the Barrabarra Greenstone Belt segment of the West Yilgarn Craton.
Cauldron seeks to achieve outcomes on par with or superior to those of NickelX (NKL), which recently encountered two robust basement-hosted anomalies consistent with substantial sulphide mineralisation.
The company has conducted recent on-site visits and consultations with landowners concerning the Melrose project, receiving their endorsement for the company’s upcoming work plan.
This survey is projected to require approximately 10 days of airborne surveying, with initial findings anticipated in early September.
CXU shares last traded at 0.6 cents.