Sovereign Nickel-Copper-PGE Project, WA

TARGETING MAGMATIC PALLADIUM-NICKEL-COPPER DEPOSITS IN THE PROSPECTIVE JULIMAR REGION

The Opportunity

 

DevEx has secured a strategic +620km2  ground position within one of Australia’s most exciting new exploration hot-spots, the Julimar Nickel-Copper-PGE province, located ~70km north-east of Perth.
 
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. 

The area has seen an exploration resurgence following the recent discovery of extensive high-grade palladium, nickel  and gold mineralisation by Chalice Gold Mines Limited (ASX: CHN “Chalice”) at its Julimar Project (see Chalice ASX Announcements – 23 March and 25 May 2020).

Figure 1. DevEx tenement applications with the ASQ Tenement overlying airborne magnetics (RTP) in relation to Chalice Gold Limited’s recent high- grade palladium-nickel discovery (ASX: CHN) 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 Sovereign magnetic anomaly, which extends over both the ASQ Tenement and DevEx’s existing Exploration Licence Application for the neighbouring tenement.

The ASQ Tenement is fully granted with existing land access and exploration agreements, importantly allowing DevEx to commence immediate exploration.

The Sovereign magnetic anomaly is interpreted to be part of a mafic to ultramafic intrusive complex, similar to rocks hosting the recent high-grade palladium and nickel mineralisation discovered by Chalice to the south (Figure 2).

This view is supported by the earlier interpretation by the State of Western Australia (Department of Mines and Petroleum), which suggests the presence of a metagabbro and metaperidotite (maficultramafic) igneous complex associated with the Sovereign magnetic anomaly1. Previous exploration within the Sovereign Project tenements has focused on evaluating the region for surface bauxite deposits, and little to no exploration for nickel-copper and platinum group elements has taken place.

Refer to ASX Announcement – 1 June 2020  for full details. 

Figure 2. Sovereign Project and underlying airborne magnetics (RTP) showing the DevEx tenement application (E70/5365) and ASQ’s granted tenement (E70/3405) which both cover the Sovereign magnetic anomaly.

 

Next Steps

 

The Julimar Complex comprises a series of layered basic/ultramafic intrusions prospective for nickel sulphide related mineralisation and was recognised following work conducted by Harrison (1984)2.

The recent Chalice discovery adds significant support for the overall prospectivity of the Julimar Complex. DevEx plans to immediately commence field mapping, surface geochemistry and additional geophysics during the coming months aimed at defining drill targets.

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

 

References:

1 1:500,000 State interpreted bedrock geology of Western Australia, 2016 - based on material obtained from the Department of Mines, Industry Regulation and Safety - https://catalogue.data.wa.gov.au/dataset/1-500-000-state-interpreted-bed... and is subject to the Creative Commons Attribution Non-Commercial 4.0 International Public License.

2 Harrison (1984) The mineral potential of layered igneous complexes within the Western Gneiss Terrain. In: Professional papers for 1984 of the Geol Surv of W.A. 19. Gov Printing Office, Perth, pp 37–54.