- Magnetic Resources (MAU) is set to commence exploration at four separate projects
- Benjabbering, Trayning, Goddard and Korrelocking are wholly owned by Magnetic Resources and located 90 kilometres northeast of Chalice Mining’s (CHN) Julimar nickel-palladium discovery
- The four projects were selected based on aeromagnetic interpreting, following a pegging rush covering 30,000 square kilometres
- Magnetic Resources is up 1.9 per cent, trading at $1.61
Magnetic Resources (MAU) is set to commence exploration at four separate projects east of the Julimar Discovery.
The four projects, located 90 kilometres northeast of Chalice Mining’s (CHN) Julimar nickel-palladium discovery in WA, total 322 square kilometres. Benjabbering, Trayning, Goddard and Korrelocking are all wholly owned by Magnetic Resources.
The four projects were selected based on aeromagnetic interpreting, after noting the structural setting of the Julimar complex and the Gonneville mineralised discrete magnetic mineralised nickel-copper-platinum group element-rich intrusion.
Benjabbering is a 111 square kilometre project, with a large, 25-kilometre-long sinuous aeromagnetic pattern, similar to the Julimar trends and structures. Several thickened zones have been identified, representing possible feeder areas for potential nickel-copper-platinum group element mineralisation.
Trayning is a 68-square-kilometre project, with linear features containing distinctive magnetic highs up to two kilometre in length.
Goddard will see several areas tested with roadside drilling to look into an inverted U-shaped magnetic zone in the eastern part of the 70 kilometre square tenement.
The 73-square-kilometre Korrelocking tenement covers a pronounced two-kilometre-long trending magnetic anomaly, which may represent an ultramafic feeder zone with prospective nickel-palladium.
“With this amazing 30,000-square-kilometre pegging rush for Julimar style nickel-copper-platinum group element mafic-ultramafic complexes, Magnetic has picked up 322 square kilometres of ground with some excellent targets,” said Managing Director George Sakalidis.
“The Benjabbering Project has a very large 30-kilometre sinuous aeromagnetic target that has similar shape and structure as the Julimar intrusive and has never been drill tested.”
“Numerous discrete large-scale targets identified over Magnetic’s three granted projects will be initially drill tested along road traverses followed by more extensive drilling when access agreements are finalized with local landowners.”
Magnetic Resources is up 1.9 per cent, trading at $1.61 at 4:30 pm AEST.