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  • Enterprise Metals Completes Fraser Range Survey, EM Responses Detected  0 comments
    Apr 28, 2013 11:52 PM

    Enterprise Metals (ASX: ENT) has completed a heli-borne geophysical survey over its Fraser Range tenements in Western Australia that has highlighted a number of late-time electromagnetic responses.

    The HeliTEM survey was designed to cover areas of anomalous nickel-copper soil geochemistry, several magnetic targets and some areas where the company's soil sampling may be ineffective.

    The preliminary HeliTEM data revealed a number of late-time electromagnetic responses which lie within areas of interpreted mafic-ultramafic rocks previously identified by soil geochemical data.

    Late-time responses in airborne electromagnetic data are typically reflective of bedrock conductors rather than near surface influences.

    Enterprise Metals said it "is highly encouraged by these responses and when final data is received will prioritise areas for ground follow-up."

    The company is also currently undertaking further detailed infill soil sampling in the Fraser Range.

    Albany-Fraser Orogen

    The Albany-Fraser Orogen in southeast Western Australia is now considered to be broadly similar in geological setting, lithologies and age to Canada's Meso-Proterozoic Nain Plutonic Suite - host to the world class Voisey's Bay nickel-copper-cobalt deposit.

    Historically however, the Albany-Fraser Orogen has received little attention from exploration companies due to the remoteness of the region, poor outcrop, and the lack of known mineralisation.

    The recent discovery by Sirius Resources (ASX: SIR) of the Nova and Bollinger high grade nickel-copper sulphide deposits has dramatically enhanced the prospectivity of the Albany-Fraser Orogen for Proterozoic intrusive-associated magmatic nickel-copper sulphide deposits like those in Canada.

    Enterprise Metals had around $3.9 million cash in the bank at the end of December 2012.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

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