LYN defines copper-nickel gravity anomaly

Our exploration Investment, Lycaon Resources (ASX:LYN), announced today that the company has defined a large gravity anomaly 1.2km west and down dip of nickel and copper mineralisation in historical drilling.

It’s a promising sign, ahead of drilling to come later this month.

This is what the anomaly looks like:

Previously a drillholes return good grades including:

• 10m @ 1.1% Cu, 0.5% Ni (DDH107)
• 11.5m @ 1.2% Cu, 0.5% Ni (DDH103)
• 3m @ 0.97% Cu, 1.3% Ni (DDH102)

That is a good grade of copper at solid metreage with a good side of nickel - previous drillholes went to ~120-150m as seen below:

The goal for LYN is to now test this mineralisation to see if it extends at depth using the gravity anomaly to home in on targets.

This is analogous to Panoramic Resources’ Savannah North discovery which came from drilling at depth.

What’s next for LYN?

After a significant quiet period since our Initial Investment in November of last year, we’re looking forward to this drilling program in June.

LYN also has the Stansmore Carbonatite Project in the West Arunta region, last year WA1 Resources surged ~2,300% after making a niobium and rare earths discovery with a similar looking EM anomaly to the one LYN has in the West Arunta region, that was subsequently successfully drill tested.