At face value, Drake Resources’ recently discovered Scandinavian magnetic anomaly appears to tick all the right boxes and could potentially turn out to be the region’s next significant nickel discovery.
For starters it was discovered by a ground EM survey conducted in an area that was previously identified by a Swedish Government airborne magnetic survey.
The previous survey identified a 1.4km piece of ground that exhibited strong magnetic signatures and the company’s latest ground EM survey neatly overlays the previous survey giving Drake more certainty that something magnetic is lurking beneath.
Importantly, the anomaly is only 50km from Drake’s high profile Granmuren nickel discovery with the geological structure closely resembling that at Granmuren.
Granmuren is a “Voisey Bay” style discovery named after the historic Canadian nickel precinct that first gave voice to the theory that nickel discoveries with similar geological structures to Voisey Bay generally occur in clusters with multiple discoveries occurring in the immediate vicinity.
In addition, the Uvbergsgruven small open pit occurs over the target area which was mined for sulphides as far back as the 1600’s but has never been subjected to modern exploration techniques.
Drake’s CEO, Jason Stirbinskis said “At this stage the conductor could have several explanations but the fact that it appears to be in the right units with historic anomalous Ni/Cu surface results and positive airborne magnetic results is an encouraging start. The next steps are likely to involve a surface gravity and magnetic survey”.
Positive ground EM surveys have been capturing the imagination of public markets for a long time but have become even more prominent following on from spectacular successes enjoyed by companies such as Sirius Resources in areas like the Fraser Range in Western Australia.
Drake Resources will now move to undertake a relatively low cost surface gravity and magnetic survey to sure up the target area for drilling.
31 May 2024
22 May 2024
