Lycaon Resources has received a key land access permit for drilling at its Stansmore project in WA’s West Arunta region
Project is close to WA1’s discoveries and ENR’s Worsley prospect
Company is now organising a heritage survey ahead of drilling in the middle of this year
Special Report: Lycaon Resources is another step closer to drilling its Stansmore project in WA’s highly prospective West Arunta region after receiving approval for a key land access permit.
The West Arunta region is one of WA’s last frontiers for major critical mineral and copper-gold (IOCG) discoveries.
The region has attracted the likes of Encounter Resources (ASX:ENR) and WA1 Resources (ASX:WA1), the latter continuing to deliver standout niobium results ~90km south of Stansmore, including an intersection of 30m at 4.7% niobium.
Stansmore itself is also prospective for both niobium and rare earth mineralisation with Lycaon Resources (ASX:LYN) having identified a carbonatite target that consists of a regionally prominent 700m long magnetic feature analogous to WA1’s discoveries and ENR’s Worsley prospect.
Carbonatites are one of the most important sources of niobium and REE’s and host all three of the world’s operating niobium mines and Lynas’ (ASX:LYC) Mt Weld deposit.
Land access paves way for exploration
LYN now has approval from Western Australia Aboriginal Affairs Minister Dr Tony Buti for a permit to carry out exploration work at its Stansmore project.
Technical director Thomas Langley says the approval is a pivotal step in its efforts to test the high order magnetic target at Stansmore.
“Our focus will now turn to organising a heritage survey ahead of drilling mid-year,” he says.
“The West Arunta is one of the last frontiers for major critical mineral and copper-gold (IOCG) discoveries in Australia.
“The identification of niobium and rare earth mineralisation associated with carbonatite intrusions by WA1 Resources and Encounter Resources nearby in their first ever drill programs signifies the extremely prospective and underexplored nature of the West Arunta.”
This article was developed in collaboration with Lycaon Resources, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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