Magnetic joins the hunt for Julimar lookalikes
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The discovery of the Julimar nickel-copper-PGE deposit sparked a rush to peg out 30,000sqkm of ground that could host lookalike mafic-ultramafic complexes.
Given this rush of activity, Magnetic Resources (ASX:MAU) is understandably excited that it secured four projects totalling 322sqkm of ground east of Julimar with some excellent targets and is now preparing to kick off exploration.
“The Benjabbering project has a very large 30km sinuous aeromagnetic target that has similar shape and structure as the Julimar intrusive and has never been drill tested,” managing director George Sakalidis said.
He added that numerous large-scale targets over the projects will be initially drill tested along road traverses followed by more extensive drilling when access agreements are finalised with local landowners.
However, the HN9 and Lady Julie projects remain the company’s primary focus.
The four projects were selected based on aeromagnetic interpretation after noting the structural setting of the Julimar complex and the Gonneville mineralised discrete magnetic mineralised nickel-copper-PGE rich intrusion.
Benjabbering covers 111sqkm and contains a large, sinuous aeromagnetic pattern that trends in a northeast and north direction and is very similar to the Julimar trends and structures.
The bedrock geology at Benjabbering is mapped as comprising a series of granitic rocks, though bedrock outcrops are sparse as most of the area is under cover.
Meanwhile, the 68sqkm Trayning tenement covers a broad series of northeast-trending magnetic zones with linear features containing distinctive magnetic highs up to 2km in length present in several areas that may represent possible ultramafic feeder zones prospective for nickel-palladium.
The third project, Goddard, covers 70sqkm and contains a pronounced inverted U-shaped magnetic zone in the eastern part of the tenement that could be a possible fold structure.
Finally, the 73sqkm Korrelocking licence application covers a pronounced 2km long east-west trending magnetic anomaly that may represent an ultramafic feeder zone prospective for nickel-palladium.
This article was developed in collaboration with Magnetic 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.