Plumridge nickel boost as gravity data comes in

|

Published 24-MAY-2016 13:16 P.M.

|

2 minute read

Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.

In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.

The below articles were written under our previous business model. We have kept these articles online here for your reference.

Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.


Click Here to View Latest Articles

MMG Limited (ASX:MMG) has completed one of the largest and most detailed gravity surveys in the Fraser Range – something JV partner Segue Resources (ASX:SEG) hopes will increase the odds at the Plumridge nickel project.

As part of a farm-in deal inked with SEG, MMG undertook a 400m by 200m gravity survey to infill a previous broader gravity survey completed by SEG last year.

The phase two survey has resulted in a “significant increase” in the data resolution available to the joint venture covering the majority of the Plumridge nickel project.

The data will be used to try and pick out nickel-copper sulphide deposits at the project – but the JV isn’t done on the data front just yet.

MMG is now planning to undertaking a moving loop electromagnetic survey over select targets to test for any conductive response associated with nickel anomalies.

SEG said in a statement that these may include “potential massive Ni-Cu sulphides”.

The survey is due to kick off next month.

MMG is funding the exploration work as part of a staged farm-in deal inked with SEG last year.

Phase one includes MMG taking an initial 51% stake in the project in return for investing $6.5 million in exploration, while it can earn a further 19% by spending another $7.5 million within two years of wrapping up stage one exploration.

Location of the Plumridge Nickel Project

About Plumridge

The Plumridge Project is a collection of eight exploration licenses covering 2250 sq.km in the Fraser Range, and is just 150km north-west of the Nova and Bollinger nickel discoveries which famously put Sirrius Resources shares on a tear.

Prior to the joint venture forming in September last year, Segue had completed several surveys over the project area.

This included its most substantial work, a gravity survey, was over the past year, with work extended to include aeromagnetic surveys, 3D mapping and soil geochemistry analysis.

SEG geologists conducted detailed surveys of the geology below the surface from 19,406 stations, covering an area of 3000 sq.km.



General Information Only

S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.

Conflicts of Interest Notice

S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.

Publication Notice and Disclaimer

The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.

Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.

This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.

 

Discover Small Cap
Biotech Stocks

Join thousands of other Investors following our stock commentary for Free

X