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- Native Mineral Resources (NMR) completes its eight-kilometre PDIP and geophysical survey covering the whole of its Maneater project in Queensland
- The survey covered four lots of two-kilometre-lines 300 metres apart with a Dipole spacing of 100 metres for a depth of 500 metres
- The results uncover a new 900-metre-long chargeable high-grade anomaly with no drill testing to date
- The chargeability is found at the north and southern ends, is near the surface, and travels over 400 metres in depth and is 150 metres wide
- The company’s technical team is finalising drilling plans for the third quarter of 2023
- NMR shares are down 2.78 per cent, trading at 3.5 cents at 2:01 pm AEST
Native Mineral Resources (NMR) has completed an eight-kilometre pole dipole-induced polarisation (PDIP) and geophysical survey covering the whole of its Maneater project in Queensland.
The company’s exploration permit contains several poly-metallic breccia targets considered highly prospective for high-grade silver, lead, and zinc mineralisation.
The survey was designed to further delineate the company’s two-kilometre-wide magnetic anomaly initially struck through a previous airborne magnetic survey.
The results have displayed a new 900-metre-long chargeable high-grade anomaly associated with the company’s already identified Maneater Hill magnetic mineralisation.
NMR utilised four two-kilometre-long lines 300 metres apart with a Dipole spacing of 100 metres for an expected depth of 500 metres.
Three diamond drill holes located at Maneater Peak were also tested, with NMR’s key focus aimed at defining the structural controls across Maneater.
The company noted that part of its chargeability anomaly is associated with a magnetic susceptibility grading higher in the southern zone, and remnant magnetic susceptibility in the northern zone.
The chargeability was found at both ends near the surface and travels up to 400 metres in depth and is 150 metres wide.
NMR’s Managing Director, Blake Cannavo, said the company was continuing to generate “great outcomes” from its systematic exploration approach at Maneater Hill.
“The two surveys completed at Maneater Hill over recent months have uncovered a much larger mineralised footprint than previously thought, so we are very eager to commence our next phase of drilling as quickly as possible,” he said.
NMR has not yet drill-tested its 900-metre anomaly and the company’s technical team is finalising drilling plans for the third quarter of 2023.
NMR shares were down 2.78 per cent, trading at 3.5 cents at 2:01 pm AEST.
