- Mandrake Resources (MAN) begins drilling at its Newleyine prospect in Western Australia
- This prospect is part of Mandrake’s Jimperding Project which has similarities to Chalice Mining’s Julimar discovery
- Mandrake plans to drill three holes to each target electromagnetic (EM) conductor identified in survey work last year
- Drilling is expected to take three weeks and will be followed by a down-hole EM survey
- Company shares are down 2.44 per cent and are trading at 20 cents at 10:16 am AEST
Mandrake Resources (MAN) has begun drilling at its Newleyine prospect in Western Australia.
The platinum group element (PGE)-nickel-copper prospect is part of the Jimperding Project and lies about 30 kilometres east of Chalice Mining’s (CHN) Julimar PGE-nickel-copper discovery.
Significantly, Mandrake has identified a number of similarities to Julimar at Newleyine, including the presence of multiple large electromagnetic (EM) conductor plates.
Mandrake announced its plans to undertake this campaign at the end of May, after its program of works was officially approved by the Department of Mines, Industry Regulation and Safety.
The diamond drilling program will include an initial three holes that will be drilled to a 300-metre depth and will each target one of the three late-time EM conductor plates identified by a fixed loop EM survey conducted last year.
Drilling is expected to take about three weeks to complete and this phase will be followed by a down-hole EM survey. This survey will aim to identify any off-hole EM conductors.
The company is well-funded to undertake this work after recently completing a placement which raised $12 million.
Company shares were down 2.44 per cent and were trading at 20 cents at 10:16 am AEST.