First Quantum restarts earn-in exploration at Dreadnought Resources’ Money nickel-copper-PGE prospect
Dreadnought Resources has likened the Money intrusion on its ground as similar to the famed Jinchuan nickel-copper-PGE deposit in China.
Canada’s First Quantum Minerals (TSX: FM) has begun programs at the Money nickel-copper-platinum group element prospect, as continues its 70% earn-in on Dreadnought Resources’ (ASX: DRE) ground.
First Quantum has recommenced work with an additional 12km of fixed loop electromagnetic (FLEM) surveys underway at the prospect, which is part of the Mangaroon project in the Gascoyne region of Western Australia, with a
The FLEM program has been designed to identify high tenor nickel-copper-PGE massive sulphides at shallow depths along the base of the Money intrusion.
Dreadnought says the FLEM survey will be completed next month, with results released in March next year.
The program is expected to deliver additional drill targets.
‘Barely scratched the surface’ of Money intrusion
An initial 12-hole drilling program last May confirmed Money as being fertile for the elements, with one hole returning 13m at 0.19% nickel, 0.17% copper, 0.012% cobalt and 0.08 grams per tonne 3PGE (palladium-platinum-gold), including 1m at 0.85% nickel, 0.77% copper. 0.46% cobalt and 0.17g/t 3PGE.
The new FLEM survey program is designed to test shallower portions of the intrusion for accumulations of massive sulphides.
Dreadnought managing director Dean Tuck said that the results from the previous 12 holes are combined with an encouraging geometry.
“We have barely scratched the surface of the 45km-long Money intrusion,” he added.
Money similar to famed China deposit
According to Mr Tuck, the Money intrusion has a similar geological age and tectonic setting to the Jinchuan nickel-copper-PGE deposit in China, with its 500Mt at 1.2% nickel, 0.7% copper and 0.4g/t platinum group elements.
Jinchuan has three main mineralised bodies over 6.5km of strike, with each body within a sub-chamber of the overall intrusion. Only one of the mineralised bodies outcrops, with the other two blind at surface.
Mr Tuck noted the implications of these similarities to Jinchuan is “significant”.
“Furthermore, given the 45km of strike over the Money intrusion with evidence of pinching, swelling, multiple feeder channels and mapped disseminated sulphides, there could be significant mineralisation that does not outcrop.”