- Minerals 260 (MI6) commences exploration fieldwork at its recently acquired Aston Project in WA’s Gascoyne Province
- MI6’s planned program will define drill targets using geological reconnaissance, rock-chip sampling, and airborne magnetic and radiometric surveys over 50 per cent of the project area
- The project comprises 13 contiguous exploration licences covering 1700 square kilometres of land, with the program expected to be wrapped up within six months
- MI6 has a “strong” cash position of $18.6 million to progress with activities within the Gascoyne tenure while maintaining momentum at its Moora/Koojan project in the Julimar Region of southwest WA
- MI6 shares are down 2.22 per cent, trading at 44 cents at 10:30 am AEST.
Minerals 260 (MI6) has commenced a maiden exploration fieldwork program at its recently acquired Aston project, east of Carnarvon in WA’s Gascoyne province.
The project was procured earlier this year via the purchase of two separate tenement packages from ASX-listed explorers eMetals (EMT) and White Cliff Minerals (WCN).
MI6’s planned field program has been designed to define drill targets using geological reconnaissance, rock-chip sampling, and airborne magnetic and radiometric surveys over 50 per cent of the project area.
The geological reconnaissance program will initially prioritise the Jameson-Malinda lithium trend, which was previously defined by Delta Lithium (DLI).
MI6 will also conduct a grid-based geochemical program to test up to 6000 rare earth element samples within the Gascoyne province.
The project comprises 13 contiguous exploration licences covering 1700 square kilometres of land, with the field program expected to take six months to complete.
“Given that we have worked hard to acquire a large land position in the highly prospective Gascoyne Province, we are excited to get on the ground and start our targeted exploration program,” MI6 Managing Director David Richards said.
Results from the airborne geophysical survey will be merged with White Cliff’s previous data, and then assessed for indications of carbonatite intrusions prospective for rare earth element mineralisation.
MI6 said its “strong” cash position of $18.6 million has allowed the company to progress with activities within the Gascoyne tenure while maintaining momentum at its Moora/Koojan project in the Julimar region of southwest WA.
MI6 shares were down 2.22 per cent, trading at 44 cents at 10:30 am AEST.