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- Mandrake Resources (MAN) has announced rock chip samples have confirmed surface platinum group elements at the Newleyine Prospect
- The Newleyine Prospect lies within the Jimperding Metamorphic Belt and is located just 30 kilometres east of Chalice Gold Mines’ Julimar discovery
- Surface rock chip results include 0.36g/t palladium, 0.27g/t platinum, 0.5 per cent nickel and 0.19 per cent copper
- These results confirm Newleyine is prospective for Julimar-style mineralisation
- Once the remaining 42 rock chip sample results are released, Mandrake will conduct electromagnetic surveys
- Company shares are trading 12 per cent higher at 2.8 cents each
Mandrake Resources (MAN) has announced results of the first batch of rock chip samples collected from the Newleyine Prospect.
The Newleyine Prospect lies within the Jimperding Metamorphic Belt located 70 kilometres northeast of Perth, Western Australia. The prospect is situated just 30 kilometres east of Chalice Gold Mines’ Julimar Nickel-Copper-Platinum Group Element (PGE) discovery.
In total, Mandrake collected 96 rock chip samples from the Newleyine Prospect. The latest results account for the first 44 rock chip samples.
Platinum and palladium results
Platinum and palladium concentrations have exceeded the company’s expectations. Results showed rock chip samples of up to 0.36g/t palladium and 0.27g/t which have confirmed the ultramafic intrusive at Newleyine is “highly fertile” for PGEs.
Furthermore, platinum and palladium concentrations exceed 0.1g/t in seven rock chip samples across the. area, with PGE mineralisation almost completely contained within weathered ultramafic rocks.
It’s important to note that Newleyine has never previously been assayed for platinum group elements.
A further 52 rock chip samples were collected and results will be released in the next few weeks.
Nickel and copper results
Recent sampling has confirmed the Newleyine Prospect has visible nickel and copper at surface.
The company recorded surface concentrations of above 0.1 per cent nickel in 14 samples with grades of up to 0.5 per cent nickel in a serpentinised dunite.
Copper results were broadly anomalous across the prospect with concentrations up to 0.19 per cent copper.
These results are consistent with Mandrake’s expectations and further add to Newleyine’s prospectiveness.
Importantly, historical drilling confirmed the presence of widespread nickel-copper-iron sulphide mineralisation of 0.24 per cent nickel and 172 parts per million copper over drill widths of up to 240 metres. Samples were not assayed for PGEs.
“The Julimar discovery has uncovered a previously unrecognised Ni-Cu-PGE province on the doorstep of Perth and Mandrake’s recent surface results demonstrate the potential for a similar mineralisation style at Newleyine,” Managing Director James Allchurch said.
Once the second batch of rock chip sample results are released, Mandrake Resources will conduct one or more electromagnetic surveys (EM). These surveys will aim to identify EM conductors for future drill testing.
Company shares are trading 12 per cent higher at 2.8 cents each just before market close.
