Pacific Bauxite NL Provides Exploration Update
Pacific Bauxite NL has commenced its exploration programme in respect of its high-quality projects located in Western Australia commencing with exploration on its Melbourne Project. The Melbourne Project comprises two granted exploration licences (E70/5767 and E70/5921) both located in the Wheatbelt region of Western Australia, north of Perth. The surrounding area is interpreted to lie within the South West Terrane of the Yilgarn Craton in proximity to its ill-defined boundary with the Murchison Domain of the Youanmi Terrane. Despite a lack of modern minerals exploration conducted of the tenure, the Company considers the Melbourne Project to be prospective for Caravel-style copper-molybdenum mineralisation which is interpreted to lie some 15km southeast of the project at Caravel Minerals Limited's Caravel Copper Project. To test this concept, the Company has completed further desktop geological work to refine its systematic exploration program targeted at testing several magnetic anomalies located along the interpreted north-western strike extensions to Caravel Mining's Copper Project. Results of the most recent geological review undertaken by Mr. Kim Frankcombe, Principal of ExploreGeo Pty Ltd, utilising publicly available information, provides excellent guidance on the potential of the Melbourne Project. The review has identified possible extensions of the greenstone belt, hosting the high grade, Pithara deposit, into tenement E70/5921. The interpreted extension lies under a playa lake system which would have hindered historical exploration efforts meaning that no modern exploration has been carried out across this area. The Wongan Hills greenstone belt, which encloses Caravel Minerals' Calingiri copper project, is also interpreted to extend north into E70/5767. What appears to be a major crustal scale structure passes through E70/5767 and could potentially provide the deep plumbing needed to bring ore fluids closer to the surface. The Company plans to complete its first-round exploration plan by mid-June 2022 with necessary permitting and access permissions being in place to allow in-field exploration to commence in July 2022 once access and the exploration in-field resource is confirmed. Coincident activities planned to achieve this timetable are: · Geophysicist report processed by the Company Finalise next stage geophysics activities o Consult with Exploration Geologist and Geochemist to confirm exploration plan · Finalise site access agreements · Further desktop exploration application work for statutory matters · Secure and schedule requisite exploration contractors With respect to E70/5767, the Company enjoys an executed Noongar Standard Heritage Agreement with the South - West Aboriginal Land and Sea Council who act on behalf of the Yued Group. The Darling Range PGE Project comprises one exploration licence application (ELA70/5111) which covers a total area of 349km2 within the Darling Ranges, located approximately 75km northeast of Perth, Western Australia. The Darling Range Project is geologically within the Western Gneiss Terrane along the western margin of the Yilgarn Craton of Western Australia. The Darling Ranges area is considered to be a highly prospective geological region for bauxite, PGE, nickel and copper mineralisation. The southern portion of the ELA lies immediately adjacent to, and west of, Chalice Mining Limited's Julimar deposit within the Gonneville Intrusive, which was discovered in 2020. The northern part of the ELA lies in proximity to Caspin Resources Limited's Yarawindah Brook Project, where initial drilling has outlined a package of mafic and ultramafic rocks extending over a 6km strike length with anomalous levels of PGE, nickel and copper. The Company has been in ongoing discussions with the Department of Mines, Industry Regulation and Safety (DMIRS) regarding the grant of ELA 70/5111, which is subject to the investigation process relating to the "Perth Peel Green Growth Plan" and the Strategic Assessment of the Perth and Peel Regions (SAPPR) overview. The Company has been advised by DMIRS that its application under ELA 70/5111 is in good standing with its grant to be considered once the issues relating to the Perth Peel Green Growth Plan and the SAPPR overview have been resolved by the State Government. The potential of the Darling Range PGE Project continues to excite as more and more is discovered by Chalice Mining in the "newest" exploration region in WA.