THE BOURSE WHISPERER: Golden Mile Resources (ASX: G88) informed the market it has acquired a large tenement package in the Murchison Region of Western Australia.
Golden Mile Resources has picked up the Yarrambee project, covering what is known as the Narndee Igneous Complex (NIC), comprising tenure of approx. 816 square kilometres, making Golden Mile the largest landholder over the NIC.
The company considers the Narndee Igneous Complex to be highly prospective for nickel-copper-PGE mineralisation, citing the Voisey’s Bay, Nova, and Julimar projects as regional examples.
“This is an exciting development for the company as we expand our exploration footprint over a highly prospective base metals province in Western Australia that has seen limited historical exploration,” Golden Mile Resources managing director James Merrillees said in the company’s ASX announcement.
“Modern airborne electromagnetics is an effective tool to quickly screen large areas for significant mineral accumulations and I look forward to highlighting targets for drill testing in the coming months.
“We are also pleased to have had strong shareholder support for the capital raising which sees the Company well placed to execute its exploration strategy over the coming months.”
Golden Mile completed the strongly supported capital raising of $800,000 that will fund an aggressive exploration program at the Yarrambee project.
TO READ THE FULL ANNOUNCEMENT: CLICK HERE