- Tulla Resources (TUL) and joint venture partner, Pantoro (PNR), have undertaken a review of their Norseman gold project and surrounding areas in WA
- The companies are presently focused on recommencing gold production in the third quarter, however, they’re now looking at the potential for platinum group elements (PGEs)
- This follows Galileo Mining (GAL) finding PGE mineralisation at an adjacent tenement and reviewing historical exploration data at the nearby Monarch prospect
- While the parties are focused on gold, Tulla says the PGE mineralisation at Monarch is “very interesting and highlights the incredible diversity of the Norseman project tenure for gold and other minerals”
- TUL shares are down 3.17 per cent to trade at 61 cents and PNR is 6.67 per cent in the red, trading at 28 cents at market close
Tulla Resources (TUL) has provided an update on the platinum group element (PGE) potential of its tenure within the Norseman region in Western Australia.
The company owns a 50 per cent interest in precious metals, such as gold, silver and PGEs, base metals, such as nickel, copper, lead and zinc, and battery minerals within the Norseman gold project.
Fellow ASX-lister Pantoro (PNR) owns the other 50 per cent interest in the Norseman project and is the manager as part of a farm-in and joint venture (JV) entered into in 2019.
The JV partners are now undertaking a review following the recent success of Galileo Mining (GAL) in identifying PGE mineralisation in the Mt Thirsty Sill which sits adjacent to the Norseman project.
The review is of historical data relating to the non-gold minerals to assess the potential economic development. Tulla and Pantoro are already proceeding with recommencing gold production at Norseman, scheduled to start in the September quarter.
Pantoro Managing Director Paul Cmrlec said the company is currently focused on completion construction and transitioning the Norseman project into a profitable gold operation.
However, he also said Pantoro plans to “pursue value from other commodities including PGEs and nickel as activities around the gold projects allow.”
In 2005 and 2006, Nickel Australia conducted exploration work, including geophysics and drilling, on a prospect called “Monarch”.
Drilling intersected shallow, high-grade PGE mineralisation with results of 27 metres at 2.01 g/t 3E (palladium, platinum and gold) from 28 metres including 10 metres at 3.19 g/t 3E from 39 metres.
“This PGE mineralisation at the Monarch prospect is very interesting and highlights the incredible diversity of the Norseman project tenure for gold and other minerals,” Tulla Resources Executive Director Mark Maloney said.
Nickel Australia reportedly said there are additional electromagnetic targets at Monarch which remain untested which offers some follow-up potential.
TUL shares were down 3.17 per cent to trade at 61 cents while PNR was trading 6.67 per cent lower at 28 cents at market close.