- Dundas Minerals (DUN) has been granted another exploration licence within the Dundas project in WA
- EL63/2116 covers 112 square kilometres and partially covers the recently identified Matilda South prospect which is believed to be a large mafic/ultramafic intrusion
- Dundas has now been granted eight out of 12 tenements within its namesake project and expects to be granted the remaining four by the middle of this year
- Company shares have ended the day 5.41 per cent in the green to close at 19.5 cents
Dundas Minerals (DUN) has expanded its Dundas project in the prospective Albany-Fraser Orogen of Western Australia.
The Western Australian Department of Mines, Industry Regulation and Safety (DMIRS) granted Dundas the exploration licence 63/2116 which forms part of its namesake project.
The tenement was applied for in July last year, following the company’s initial assessment of various public domain regional gravity and magnetic data sets.
EL63/2116 covers 112 square kilometres and partially covers the western part of Dundas’ recently identified Matilda South exploration prospect, which has been interpreted as a large mafic/ultramafic intrusion.
The newly-granted licence means Dundas has now been granted eight out of 12 tenements within the Dundas project. The company expects the remaining four licence applications will be granted by mid-2022.
In addition, after reaffirming the gravity anomaly at the Matilda South prospect is most likely due to a mafic/ultramafic intrusion, the company plans to undertake geophysical surveys followed by drilling.
Dundas plans to commence the survey work next month and will aim to identify potential targets that may indicate sulphides associated with nickel and copper mineralisation. Subsequent drill testing is slated for mid-year.
Company shares ended the day 5.41 per cent in the green to close at 19.5 cents.