The Nanadie Well Project is located approximately 100km south east of Meekatharra in the Murchison Mineral Field of WA and covers an area of 145km2. In December 2013 Intermin entered into a Farm-in and Joint Venture agreement with Mithril Resources Limited (ASX: MTH) whereby Mithril could earn a majority interest (up to 75%) in the Nanadie Well Project by spending $4M over 6 years. The project is highly prospective for Cu, Au, Ni and PGE’s.
The Project hosts the Nanadie Well Copper Deposit where a 2012 JORC Code Compliant Inferred Mineral Resource Estimate of 36.07Mt @ 0.42% copper (151,506 tonnes copper) was estimated by Intermin in September 2013 (see ASX announcement dated 19 September 2013).
Mithril has been very active since discovering massive and disseminated sulphides at the new Stark Prospect (see ASX announcement dated 23 March 2015).
Massive and disseminated Cu-Ni-PGE sulphides have been intersected over a 1km strike length with mineralisation open in all directions. Mineralisation is generally disseminated with some particularly high grades in massive zones returning up to 13.7% Cu, 1.62% Ni and 3.94 g/t PGE’s.
Numerous new drill targets have also been defined at the Stark Prospect immediately along strike from and below existing copper-nickel-PGE mineralisation (see ASX announcement dated 13 May 2015). In addition on ground exploration has returned high grade copper and gold rock chip samples up to 12.85% Cu and 6.97g/t Au (see ASX announcement dated 15 July 2015).
Exploration in early 2017 will involve a SQUID EM survey at Stark over the most attractive parts of the Nanadie Well copper deposit.