Special Report: Australian Vanadium (ASX:AVL) has applied for tenements north and east of the Coates project, which has similar rocks to those hosting Chalice Gold Mines’ regionally defining Julimar discovery.

At Julimar, follow up exploration has since confirmed that Chalice (ASX:CHN) could be onto something very significant in this previously overlooked mineral province near Perth, WA.

The stock is now up ~1400 per cent since mid-March.

29km from Julimar, AVL is collaborating with Lithium Australia (ASX:LIT) and private company Mercator Metals to explore for nickel, base metals, gold and platinum group elements (PGEs) at the Coates project.

New tenement applications will add 52.6sqkm of area to the east and north of the existing project, which was previously explored exclusively for vanadium:

Coates now covers 111.6sqkm of mafic-ultramafic rocks similar to those which host Julimar, AVL says.

An extensive digitalisation and interpretation of historical data strongly supports the analogous geological nature to nearby base metal PGE discoveries, AVL managing director Vince Algar says.

“The results from AVL’s geological compilation of the historical Coates project data, in addition to recently released co-incident Ni-Cu-Co-PGE soil anomalism on adjacent LIT ground, strongly supports the value of this ground in the search for additional Ni-Cu-PGE discoveries such as those at Julimar and Yarahwindah,” he says.

“Ground in the area is now extremely sought after and AVL is pleased to be able to add to the existing portfolio with these new applications.

“Exploration including soil geochemistry and airborne electromagnetic surveys are being planned now in this exciting area.”

 

This story was developed in collaboration with Australian Vanadium, a Stockhead advertiser at the time of publishing.

This story does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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