AXG Mining (ASX: AXC) has started interpretation of airborne electromagnetics acquired in 2012 over the Mt Ridley tenement in the Fraser Range, Western Australia.
It has an option to acquire the 475 square kilometre Mt Ridley tenement from Perth based XTL Energy International.
The company plans to undertake a follow up ground electromagnetic survey later in 2013 subject to the results of the airborne electromagnetic.
The primary target is a layered mafic intrusion identified by previous explorers that has potential to host copper-nickel-cobalt mineralisation similar to that outlined at Sirius Resources’ (ASX: SIR) Nova-Bollinger Deposit.
AXG also has options to acquire the Mt Ridley E-W and Mt Ridley North tenements.
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