Lycaon ticks off heritage and flora surveys as it gears up for drilling at Bow River
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Lycaon Resources is ready to kick off drilling at the Bow River nickel-copper-cobalt-PGE project in the East Kimberley region of WA next month, following unseasonal rain which caused delays due to road closures at the Fitzroy River bridge.
The proposed drill program at Bow River will be critical in demonstrating the potential for a major nickel-copper-cobalt resource in the Kimberley analogous to Panoramic Resources’ (ASX:PAN) Savannah nickel mine, 60km to the south.
Heritage and flora surveys have now been completed to allow for drilling to commence, targeting beneath the current extent of historical drilling.
The historical gravity Falcon data and recent ground gravity data has now been modelled as a 3D inversion to better quantify the magnitude of the gravity anomaly, location at depth and size.
This work has allowed for a higher geological confidence in assisting drill planning ahead of drilling in Q3, 2023.
“We are finally in a position to begin drilling at Bow River, which has been delayed due to unseasonal rains and subsequent road closures at the Fitzroy bridge,” Lycaon Resources (ASX:LYN) technical director Thomas Langley said.
“Bow River is an extremely compelling nickel-copper magmatic sulphide prospect which ranks as a standout target in the Kimberley, with similarities to Panoramic’s Savannah mine and I’m extremely excited to be able to drill this very soon.”
At the Stansmore niobium-REE Project in the West Arunta region, land access negotiations are proceeding well with Lycaon agreeing to key commercial terms of the land access agreement to allow for consideration and endorsement of the agreement by Parna Ngururrpa Board of Directors in October this year.
“We continue to push for our exploration programs to be completed across the West Arunta and Kimberley projects, with an appreciation of the native title negotiations and the timing necessary to allow for this to occur,” Langley said.
This article was developed in collaboration with Lycaon Resources Limited, 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.