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Rafaella Resources (ASX:RFR) review of proposed Canada projects yields strong results
Source: Rafaella Resources
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  • Exploration company Rafaella Resources (RFR) has been advised an initial review of one of its proposed Canadian projects has been completed
  • A geophysical review was carried out on the Midrim and Laforce Ni-Cu-PGE deposits, which RFR plans to acquire from Meteoric Resources (MEI)
  • The review identified multiple targets, including 10 shallow level anomalies in addition to the known mineralisation at Midrim
  • These anomalies are favourably associated with elevated magnetics which are considered more prospective
  • Rafaella is now planning heliborne EM (HEM) surveys over the prospects, once the acquisition is final
  • Shares in RFR are currently worth 14.5 cents each, up 3.57 per cent

Rafaella Resources (RFR) has been advised an initial review of one of its proposed Canadian projects has been completed and returned positive results.

The exploration company is looking to acquire a number of Canada-based projects from Meteoric Resources (MEI), with a conditional sales agreement signed.

Rafaella Resources hired Southern Geoscience Consultants (SGC) to carry out a geophysical review on the Midrim and Laforce Ni-Cu-PGE deposits, located in Quebec.

Rafaella advises that the review identified multiple targets, including 10 shallow level anomalies, in addition to the known mineralisation at Midrim.

These anomalies are also favourably associated with elevated magnetics which are considered more prospective.

"The review by SGC strongly supports the initial findings by CSA Global that the Midrim and Laforce high-grade nickel-copper-PGE deposits offer exceptional upside to the company," RFR Managing Director Steven Turner said.

"We are very excited and fortunate to have secured these high-grade, high-potential nickel sulphide deposits at a time when the world is recognizing the growing importance of this key commodity," he added.

Rafaella is now planning to conduct heliborne EM (HEM) surveys over the prospects, once the acquisition is finalised in the coming weeks.

Shares in RFR are trading up 3.57 per cent at 14.5 cents each today at 1:01 pm AEDT.


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