Klaus Eckhof's Lachlan Star joins the Julimar nearology rush

Lachlan Star (ASX:LSA) is the latest explorer to pick up ground near Chalice Gold Mines’ (ASX:CHN) regionally defining Julimar nickel-copper-PGE discovery near Perth in WA.

Well-known mining entrepreneur Klaus Eckhof joined the shell company back in 2018 to look for a ‘big, blue sky project’.

It took a while, but here we are.

Lachlan Star has now entered into an agreement to buy 75 per cent of Koojan, an under-explored copper-nickel-platinum group elements (PGE) project in the New Norcia region of WA.

Koojan is 80km north of the Julimar nickel-PGE discovery, which has sparked a three-month, ~390 per cent increase in the Chalice share price.

More importantly, it is interpreted to be in the same geophysical setting as Julimar and Cassini Resources’ (ASX:CZI) Yarawindah nickel-copper-PGE prospect:

Similar to Julimar, historic exploration at Koojan was focused on bauxite.

Eckhof, who is an executive director of Lachlan Star, says this is a favourable setting for “significant” nickel-copper orebodies.

“The New Norcia region has become a focus for exploration through the recent discovery of the Julimar nickel-PGE-copper prospect by Chalice Gold Mines and a re-appraisal of the Yarrawindah Brook nickel-PGE mineralisation by Cassini Resources,” he says.

“The project has not historically been explored for copper and nickel mineralisation; however government geological mapping has highlighted numerous mafic-ultramafic intrusive bodies that may be associated with mineralisation.

“Field reconnaissance completed has demonstrated high-grade copper, nickel and cobalt mineralisation.”

Lachlan Star is now planning geological mapping, geochemical sampling, and geophysics to define targets for drill testing.

Meanwhile, minnow Mandrake Resources (ASX:MAN) says “pivotal” PGE assay results from 44 rock chip samples collected at the Newleyine prospect — part of the Jimperding project, about 30km east of Julimar — are due within the next two weeks.

Further comprehensive geochemical sampling and mapping has kicked off, the company says.

Mandrake caught a rocket on April 14 after announcing a move into the region.

The company – up +60 per cent over the past six months — says it is targeting nickel-copper-PGE mineralisation hosted in intrusive complexes, the same mineralisation Chalice has identified at Julimar.

Experienced explorers, including porphyry hunter DevEx Resources (ASX:DEV) and advanced lithium play Liontown (ASX:LTR), have also picked up prospective ground near Julimar over the past few months.

READ: Stocks fly as a ‘nearology’ rush gets underway near Julimar, WA’s newest discovery