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- Bulletin Resources (BNR) has been granted a new tenement in the Duketon Greenstone Belt in Western Australia
- The Duketon North Project sits south of Olympia’s (OLY) nickel deposit and north of Regis Resources’ (RRL) Moolart Well
- BNR says the area is prospective for gold, nickel and platinum group elements and is analysing previous exploration activity before on-ground work begins
- Shares are trading 4.84 per cent higher at 6.5 cents at 11:57 pm AEST
The Department of Mines Industry Regulation and Safety has granted Bulletin Resources (BNR) a new tenement in the Duketon Greenstone Belt in the Goldfields region of Western Australia.
The project covers an area of 176 square kilometres and is in an area which hosts Regis Resources (ASX:RRL) three megatons per annum Moolart Well gold operations and the Olympia (ASX:OLY) nickel deposit.
However previous exploration of the tenement is limited and reportedly focused in the north section, where aircore drilling intersected four metres at 0.75 per cent nickel and 684 parts per million cobalt beneath an intersection of four metres at 0.1 per cent copper.
Additionally, BNR said a number of conductors were identified in an electromagnetic survey and five diamond holes were drilled.
The diamond drilling is said to have identified barren sulphides but the electromagnetic (EM) conductor associated with the anomalous aircore drill hole was not tested and remains to be followed up.
The area is also believed to be prospective for gold with previous exploration identifying a four-kilometre long gold-in-soil anomaly without identifying its source. The company is consequently planning work to find the source of the anomalism.
BNR is currently compiling and reviewing all previous exploration activity with on-ground work to follow.
Chairman Paul Poli said the company was continuing to build its project portfolio. There is a focus on areas near existing infrastructure with the potential to build on previous early exploration work.
“Our portfolio of projects now includes gold, lithium and now nickel targets, and we regularly investigate opportunities that have potential to substantially grow the company,” he said.
Shares were trading 4.84 per cent higher at 6.5 cents at 11:57 pm AEST.
