AXG Mining (ASX:AXC) has identified nine priority targets from low level detailed aeromagnetic survey completed at its Mt Ridley project in Western Australia’s Albany-Fraser Province.
Five of these are similar in magnetic character to Sirius Resources’ (ASX:SIR) ‘eye’ structure that hosts the Nova nickel sulphide deposit.
Mt Ridley lies within the same gravity corridor of dense iron rich mafic-ultramafic rocks that are highly prospective for nickel and copper mineralisation as Nova.
The survey had identified 37 targets with the detailed magnetic information to be used for structural and lithological interpretation as well as direct targeting.
The radiometric data will also be very useful for interpreting underlying lithology where cover is thin or absent.
Each of the priority targets will be progressively field checked, and then a follow up strategy will be decided upon.
An appropriate combination of mapping, soil sampling, air core drilling and deep penetration ground electromagnetic surveys will be applied depending on the target and its setting.
Ground based high-powered moving loop electromagnetic surveying has commenced over two high priority targets.
Results are expected in early December.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.