• Lycaon Resources is aiming to complete heritage surveys, as well as a diamond drill program at Stansmore as soon as possible
  • The Stansmore carbonatite consists of a 700m long magnetic feature analogous to WA1’s discoveries
  • WA’s remote West Arunta region is viewed as underexplored and extremely prospective for niobium and rare earth mineralisation

 

Special Report: With land access progressing at the Stansmore project in WA, Lycaon’s near term focus turns to completing heritage surveys ahead of a maiden drilling program in the next few months.

Lycaon Resources (ASX:LYN) has been working hard at getting its ducks in a row to carry out a maiden drilling and exploration program at the Stansmore project in WA’s West Arunta region, one of the last frontiers for major critical mineral and copper-gold (IOCG) discoveries.

The region has attracted the likes of Encounter Resources (ASX:ENR) and WA1 Resources (ASX:WA1), the latter of which continues to deliver standout niobium results ~90km south of Stansmore, including an intersection of 30m at 4.7% niobium.

Niobium has been declared a ‘critical mineral’ by the Australian Government due to its developing use case as a superconductor material in battery applications.

Previous work by Southern Geoscience, such as a 3D geophysical inversion of the publicly available magnetic data, is assisting LYN with targeting of drillholes with this work having highlighted multiple targets as prospective for niobium-rare earth element mineralisation.

 

Drilling prepped for Q2

LYN technical director Thomas Langley says drilling is planned to begin in Q2 2024, pending approvals.

“We are extremely pleased to have finalised the land access agreement with the Parna Ngururrpa traditional owners and the positive relationship built to date with all stakeholders bodes well for our future exploration efforts,” he says.

“The identification of niobium and rare earth mineralisation associated with carbonatite intrusions by WA1 and ENR nearby in their first ever drill program signifies the extremely prospective and underexplored nature of the West Arunta.”

The Stansmore carbonatite target consists of a regionally prominent 700m long magnetic feature analogous to WA1’s discoveries and ENR’s Worsley prospect.

LYN is working through the approvals processes required to enable heritage surveys and diamond drilling to be undertaken as soon as possible.

 

 

This article was developed in collaboration with Lycaon Resources, a Stockhead advertiser at the time of publishing.

 

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

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