(MENAFN- ProactiveInvestors - Australia) Ram Resources (ASX: RMR) has taken the next step in the exploration program at its Fraser Range South nickel-copper project in Western Australia with the start of the ground electro-magnetic survey.
This moving loop survey will focus on four Variable Time-domain Electro-magnetic anomalies already identified at Fraser Range South as part of Ram's strategy to refine drilling targets.
Field reconnaissance completed by Ram has confirmed the prospectivity of Fraser Range South with out-cropping gabbro intrusions and mafic/ultramafic units identified.
The area subject to this survey is just 2 kilometres from Sirius Resources' (ASX:SIR) Centauri and Crux nickel-copper prospects.
Ram also controls the Fraser Range South project, where there auger drilling by Ponton Minerals between 2005 and 2012 produced three interesting coincident soil anomalies containing nickel, copper, and palladium.
These included 282ppm nickel, 928ppm arsenic, 87ppm cobalt, 75ppm copper, 238ppb lead and 53ppb platinum over the project area.
Ram is modestly capitalised at under $7 million, and holds around $1.5 million in cash.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.