- During the December 2021 quarter, Mandrake Resources (MAN) continued assessing activities at the Jimperding project in WA
- The company aims to uncover nickel-copper-platinum group element (PGE) mineralisation similar to that found at Chalice Mining’s (CHN) Julimar discovery
- Drilling began at the Newleyine prospect to test bedrock anomalies for this style of mineralisation but was paused due to weather conditions
- Mandrake spent $127,000 on operating activities, generated $105,000 from financing activities and rounded off the quarter with $16.4 million in cash
- MAN shares are up 1.67 per cent to trade at 6.1 cents
During the December 2021 quarter, Mandrake Resources (MAN) continued assessing activities at the Jimperding project in Western Australia.
The company is focused on uncovering nickel-copper-platinum group element (PGE) mineralisation similar to that of Chalice Mining’s (CHN) highly-regarded Julimar discovery which lies 30 kilometres away in the Jimperding Metamorphic Belt.
Before weather impacted drilling activities, Mandrake completed three drill holes at the Newleyine prospect in July. Drilling targeted electromagnetic (EM) bedrock anomalies that geophysical interpretation suggested could be the response of massive sulphides consistent with Julimar-style nickel-copper-PGE mineralisation.
Results included 6.6 metres at 0.19 per cent nickel and 853 parts per million copper from 315.4 metres.
Earlier this week, drilling recommenced at the prospect to target the final untested EM bedrock anomaly. Once complete, the hole will be cased ahead of a survey designed to identify off-hole EM conductors.
During the quarter, the company completed geological mapping and sampling across the
entire Jimperding project to investigate ultramafic bodies located at the Tolarno North and Tolarno South prospects.
The initial geochemical signature and coincident EM anomalism indicated the potential prospectivity of Tolarno North for nickel-copper-PGE mineralisation.
Outside of the Jimperding project, Mandrake is continuing to assess project opportunities across a broad range of commodities and locations.
The company spent $127,000 on operating activities and generated $105,000 from financing activities. Mandrake rounded off the quarter with $16.4 million in cash.
MAN shares were up 1.67 per cent to trade at 6.1 cents at 12:39 pm AEDT.