Sovereign Nickel-Copper-PGE Project, WA

DRILLING FOR NICKEL-COPPER-PGE MINERALISATION IN THE PROSPECTIVE JULIMAR REGION

The Opportunity

 

The Sovereign Project is located in the highly prospective Julimar region of Western Australia, ~70km north-east of Perth. The Project is centred on the Sovereign Magnetic Complex and located between the Gonneville Ni-Cu-PGE discovery to the south, owned by Chalice Mining Limited (ASX: CHN), and the Yarawindah Brook Ni-Cu-PGE Project (Caspin Resources Limited, ASX: CPN), to the north (Figure1). 

DevEx’s holdings within the region includes the Sovereign Project alongside three additional Exploration Licence Applications, all considered prospective for magmatic nickel-copper-platinum group elements. 

Figure 1. DevEx tenement applications with the ASQ Tenement overlying airborne magnetics (RTP) in relation to Chalice Mining Limited’s (ASX: CHN) recent high- grade nickel-copper-platinum discovery  at the Julimar Project.

 

Sovereign Project Background

 

The Sovereign Project was secured in June 2020 through an Earn-In Agreement with Australian Silica Quartz Group Ltd (ASQ). The Agreement secured access to the highly prospective target - the Sovereign Magnetic Complex, which extends over both the ASQ Tenement and DevEx’s 100%-owned, neighbouring tenement located directly to the east (E70/5365). 

The Sovereign Project overlies a magnetic complex of rocks that is interpreted to be part of the same mafic-ultramafic intrusive rocks hosting the Julimar Complex, where the recent high-grade palladium and nickel mineralisation was discovered by Chalice to the south (Figure 2). Refer to ASX Announcement – 1 June 2020  for full details. 

 

Exploration

 

A maiden drilling program is currently underway to test the western half of the Sovereign Magnetic Complex. Drilling is designed to test several targets within the large, 6km x 7km Sovereign Magnetic Complex, where previous assaying of shallow bauxite and rock chip sampling drilling returned multiple areas of anomalous nickel, copper, chromium and PGE results (see ASX Announcement – 19th August 2020).

Several areas – including the Kingsley, Hudson and Mackenzie anomalies – include multiple anomalous zones with coincident Cu and Pd+Pt plus supporting Ni and Chromium (Cr) results. The areas coincidently overlie several late-time airborne EM conductors (Figures 2 and 3), and are considered priority drill targets (see ASX Announcements - 8th February 2021).

Figure 2. Airborne magnetic (RTP) and new AEM targets (yellow outline) with Pd + Pt analysis of pulps from ASQ Bauxite Drilling and Company rock chip (duricrust) sampling.

Figure 3. Ground gravity (Residual Bouguer) and new AEM targets (yellow outline) with Cu analysis of pulps from ASQ Bauxite Drilling and Company rock chip (duricrust) sampling.

For the further project information, please view our latest Investor Presentation and ASX Announcements.