Ragusa Minerals (ASX:RAS) has flagged that it’s planning to expedite plans for an exploration program to further examine the larger potential of the Purple Pansy manganese-gold project in Arizona.
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The company completed a successful site visit to Purple Pansy and is now looking to determine lateral and depth continuation of the manganese through a combo of drilling, geophysical surveying, and surface investigations.
Chairman Jerko Zuvela said numerous historical mine sites and workings were inspected and evaluated, with handheld XRF readings taken at various sites of interest in the project area showing significant results.
“The Purple Pansy project site visit was very positive and provided the company two walk-up targets to prioritise exploration works. Having two historic manganese mine sites within the project area with exposed massive manganese oxide mineralisation is extremely encouraging,” he said.
Mr Zuvela explained that the Purple Pansy nine site displayed two zones of enriched manganese oxide in the highwall that appear to continue north.
“The handheld XRF readings provide very promising assurance that the company can target its exploration works systematically and produce results to determine the scale of the manganese oxide mineralisation exposed within the two historic mine sites,” the Ragusa chairman told shareholders today.
“This is a major opportunity for the company to establish a project with scale and development potential to create long-term value.”
Mr Zuvela continued: “The Purple Pansy project site visit confirmed the highly prospective nature of the project area and has provided numerous prospective target exploration areas for the Company to further assess.”
Mr Zuvela added that several other sites were identified as prospective and will be targeted for future work. In particular, the Black Rock mine was highlighted as an immediate prospective target, with significant XRF readings confirming the high-grade nature of manganese oxide mineralisation.
RAS is steady at 3.5cps. Mkt cap $6.936M.
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