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- Pacific Bauxite (PBX) has provided a number of shareholder updates following its successful listing on the ASX
- The company has commenced exploration at its Melbourne project, which it considers to be prospective for copper-molybdenum mineralisation
- Its exploration licence application for the Darling Range PGE project is in good standing
- The company plans to change its name to Western Yilgarn NL to better reflect its business operations and project locations
- Pacific Bauxite is an early-stage mineral exploration company developing highly prospective projects across Western Australia
- Shares in Pacific Bauxite were steady at $0.15 each as of 12:19 pm AEST
Following its successful listing on the ASX, Pacific Bauxite (PBX) has provided several exploration and operational updates.
The company has started an exploration program focused on its properties in Western Australia, beginning with the Melbourne project.
The project is located in Western Australia’s Wheatbelt region just north of Perth.
Pacific Bauxite considers it to be prospective for copper-molybdenum mineralisation similar to Caravel Minerals’ nearby Caravel copper project.
A recent geological review supports the strong potential for several magnetic anomalies on the project. Results also identified possible extensions of the greenstone belt hosting the high-grade Pithara deposit.
The first-round exploration plan is scheduled to be completed by mid-June, with in-field exploration set to begin in July.
The Darling Range PGE project, approximately 75 kilometres northeast of Perth, lies within the Western Gneiss Terrane along the western margin of the Yilgarn Craton of Western Australia.
The Darling Range area is considered highly prospective for bauxite, PGE, nickel and copper mineralisation.
Discussions with the Department of Mines, Industry Regulation and Safety (DMIRS) are continuing. The project’s exploration licence application under ELA 70/5111 is in good standing and will be considered once the State Government evaluates it against the Perth Peel Green Growth Plan and the Strategic Assessment of the Perth and Peel Regions (SAPPR) overview.
The licence application is bordered to the south by Chalice Mining’s Julimar deposit and to the north by Caspin Resources’ Yarawindah Brook project.
Pacific Bauxite is strategically securing its place in the newest and most talked-about nickel region in the world. To this end, the company plans to change its name to Western Yilgarn NL to more accurately reflect its business and the location of its projects.
Pacific Bauxite is an early-stage mineral exploration company developing highly prospective projects across Western Australia’s emerging premier mining jurisdictions.
Shares in Pacific Bauxite were steady at $0.15 each as of 12:19 pm AEST.
