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Fraser Range Metals Group Gains Substantial Shareholder

Fraser Range Metals Group (ASX: FRN), formerly AAQ Holdings, has added N&J Mitchell Holdings to its register as a substantial shareholder with a 5.02% stake in the company.

N&J Mitchell Holdings now holds 727,275 shares in Fraser Range Metals.

Last week Fraser Range Metals announced it had completed a VTEMmax airborne survey over a large part of the Plumridge Project in Western Australia that has identified 28 targets.

High priority targets will be followed up with ground electromagnetic surveys.

The 1,170 line kilometre survey was commissioned to explore interpreted mafic/ultramafic rocks that form the Fraser Zone for anomalous EM responses that may be caused by accumulations of massive sulphides similar toSirius Resources' (ASX: SIR) Nova prospect.

It also targeted graphite in metasediments of the Biranup Zone.

The initial interpretation has highlighted many target responses associated with the highly prospective Fraser Zone, as well as within the Salt Creek intrusives to the northwest.

A number of these are associated with higher magnetic responses interpreted to be due to mafic/ultramafic lithologies analogous to those hosting the Nova prospect to the southwest along the Fraser Zone.

The Plumridge Project is located about 280 kilometres east-northeast of Kalgoorlie and is located within the Proterozoic Albany-Fraser Orogen on the eastern edge of the Yilgarn Craton.

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