Musgrave Minerals granted Mamba Exploration licence
THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) has been granted the Exploration Licence (E28/2405) within the company’s wholly-owned Mamba project in the Fraser Range.
The Mamba nickel-copper project is located in the same belt as the Nova-Bollinger nickel-copper sulphide discoveries of Sirius Resources (ASX: SIR) in south-eastern Western Australia.
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Mamba project location. Source: Company announcement
Musgrave has identified 12 priority nickel-copper targets at the Mamba project from a detailed aeromagnetic survey the company carried out over the entire tenement in September 2014.
According to Musgrave the targets show magnetic characteristics, which it has interpreted to be consistent with mafic-ultramafic intrusive bodies, the prospective host for nickel-copper sulphide mineralisation in the district.
“We are excited to have this new tenement granted and look forward to some exciting exploration results as we progress,” Musgrave Minerals managing director Rob Waugh said in the company’s announcement to the Australian Securities Exchange.
“There has been very little previous exploration conducted here in what appears to be a very prospective part of the belt.”
Musgrave explained the targets comprise of two broad target styles it has interpreted from the aeromagnetic data.
The first style includes discrete magnetic highs interpreted to be mafic/ultramafic intrusive bodies prospective for magmatic nickel-copper deposits.
The second style includes de-magnetised zones associated with major structural intersections or fold closures, which the company consider could represent increased areas of fluid flow and potential mineralisation.
Musgrave indicated its follow-up exploration on the 12 priority targets will involve a combination of ground electromagnetic (EM) surveys to define specific bedrock conductors and air core drilling to identify the potential footprint of nickel-copper mineralisation.
The ground EM survey is anticipated to commence, as a priority, in March with drilling to follow.
Email: info@musgraveminerals.com.au
Website: www.musgraveminerals.com.au