How did Anson Resources discover high-grade nickel, chrome, and cobalt at the Hooley Well Project?

$ASN How did Anson Resources discover high-grade nickel, chrome, and cobalt at the Hooley Well Project?

High-Grade Mineral Discoveries at Hooley Well Propel Anson Resources

Anson Resources Limited (ASX: ASN) has announced promising assay results from a first-pass sampling program at its Hooley Well Project, located in the mid-west region of Western Australia. The results showcase significant findings of nickel (Ni), chrome (Cr), and cobalt (Co) from both rock chip and soil sampling programs.

These findings highlight the project's potential to host a highly prospective deposit rich in Ni, Cr, Co, and platinum group elements (PGEs), along with rare earth elements (REEs) within clay zones. The discovery extends the mineralization for over 500 meters, with plans for reverse circulation drilling at the Erong Hill target as the next exploration phase.

Exceptional Assay Results Unveiled

Anson's recent sampling efforts have yielded high-grade values of Ni, Cr, and Co, underscoring the site's rich mineral potential. The rock chip sampling program returned values such as 6.14% Cr and 0.011% Co, alongside soil ... samples showing up to 0.58% Cr and 0.36% Ni. These results come from an extensive program consisting of 46 rock chip and 356 soil samples across priority targets identified through recent aeromagnetic interpretation efforts by Anson.

An Expansive Mineralisation Footprint

The mineralization at the Hooley Well Project spans more than 500 meters and remains open along strike at the HW01 anomaly. The findings suggest a broad corridor of mineralized potential, highlighted by elevated chrome values and promising nickel and cobalt assays. The exploration has also pointed towards the presence of transported iron-rich clays, ultramafic units, and potential deep-seated sources for nickel laterite and sulfides, as well as REEs.

Next Steps: Drilling to Uncover Depth Potential

Following these encouraging surface sampling results, Anson plans to initiate reverse circulation drilling at the Erong Hill target. This next exploration phase aims to interrogate high-priority targets identified from both surface findings and deep magnetic conductors, with subsequent diamond drilling planned subject to the initial drilling results.

Background and Geological Significance

The Hooley Well prospect is part of a conductive mafic-ultramafic intrusive complex, drawing comparisons to notable deposits such as Julimar and Nova-Bollinger, located along the Yilgarn Craton margins. The geological mapping and sampling program has validated and expanded upon previous high-priority nickel-laterite targets, with the prospect showing similarities to nickel laterite-style deposits.

Importance for Anson and the Mining Sector

These findings at the Hooley Well Project mark a significant step forward in Anson Resources' exploration endeavors, underscoring the site's potential as a multi-element deposit with high-grade Ni, Cr, Co, and possible PGE and REE significance. The project's advancement into drilling phases signals a positive outlook for resource delineation and development, positioning Anson to capitalize on these critical minerals' growing demand in various industrial and technological applications.

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