Tambourah Metals (ASX: TMB) has confirmed that JV partner that Sociedad Quimica y Minera de Chile S.A. (SQM) has contracted MagSpec Airborne Surveys to fly a 12,000 line kilometre magnetic survey at the Julimar North Project.
The survey will cover priority targets at Mogumber, Bolgart and Yerecoin and it will cover where ultramafic rocks, prospective for hosting nickel mineralisation, have been identified. The Bolgart Survey will follow up on airborne gravity anomalies. It is expected that the results of the survey and geophysical interpretation will be announced in approximately six weeks’ time.
The Yerecoin Project (E 70/5408) is located approximately 120km to the northeast of Perth, Western Australian, and south-east of the wheatbelt town of Yerecoin.
EL E70/5408, is prospective for Ni-PGE-Cu mineralisation within ultramafic host rocks of the Jimperding metamorphic belt. Yerecoin is approximately 10 km east of Caspin Resources Ltd’s Yarrawindah Ni-PGE discovery.
Chalice Mining Ltd Julimar has defined an Ni -Cu-PGE resource at the Chalice Julimar project and the increased exploration activity within the Jimperding Metamorphic Belt has highlighted the presence of an extensive, thick ultramafic intrusive sequence at the footwall position of the Yerecoin South magnetite deposit on the adjacent Burley Minerals Ltd’s project. This highly prospective footwall may extend onto E70/5408.
The airborne magnetic survey will cover the potential extensions of the footwall geology on Tambourah’s Yerecoin project and will provide assessment of the Ni-PGE-Cu exploration potential within E70/5408.
Tambourah Metals and leading global lithium producer SQM have entered into an agreement providing SQM with an exploration earn-in across six of Tambourah’s Julimar Nth projects in Western Australia.
SQM has been granted the right to earn an initial 50% interest (and can earn a maximum of 70%) in all mineral rights at the Julimar Nth project by sole funding a minimum of A$1.5 million and up to $3 million of exploration and development activities.
