Coates Project

COATES NICKEL COPPER PLATINUM GROUP ELEMENT PROJECT

Drill-ready nickel copper and platinum group element targets identified, and drilling is imminent. 

The Coates Project is in the Jimperding Metamorphic Belt, a major geological domain which also hosts the world class, 20Moz Pd-equivalent Julimar – Gonneville Ni-Cu-PGE Project[1][2] owned by Chalice Mining Ltd (ASX: CHN) and located just 28km from Charger’s Project (refer to Figure 1).

Figure 1: Coates Nickel Copper PGE Project Location approximately 28km southeast of the Julimar Project (Chalice Mining Ltd ASX: CHN).

[1] See ASX: CHN announcement “Updated Gonneville Mineral Resource announcement, dated 8 July 2022.”
[2] Ni means nickel, Cu – copper, Co – cobalt PGE – platinum group metals

LOCATION AND INFRASTRUCTURE

The Company holds a 70% to 85% ownership in the Coates Project, located approximately 65 km east of Perth at Wundowie, Western Australia.

The Project benefits from its proximity to world-class road, rail, port and high-voltage power infrastructure.  A network of sealed roads provides excellent all-weather access directly to the Coates Project, and the nearby towns of Wundowie and Bakers Hill, will feature in future logistic planning.

COATES PROJECT AND MAFIC INTRUSION-HOSTED NICKEL DEPOSITS

The geological setting is referred to as a ‘mafic Intrusion’.

Western Australian examples that host Ni-Cu-PGE mineralisation include Radio Hill near Karratha and Carr Boyd, near Kalgoorlie, both of which went on to be underground mines; and the more recently discovered, world class, Julimar – Gonneville Project.

Overseas examples are globally dominant nickel producers, including the Norilsk Mine in Russia, Sudbury and Voisey’s Bay in Canada and Jinchuan in China.

COATES PROJECT T1 DRILL TARGET

A SkyTEM geophysical survey delineated 20 targets, of which the T1 target stands out as extensive.

A follow-up FLTEM geophysical survey provided more detailed geometry of conductor target (which may include nickel sulphides).  Importantly, The T1 conductor is coincident with Ni, Cu, Au and PGE anomalies generated by soil geochemistry.  Together, these form the basis of the drill targets. (Refer to Figure 2).

The Company has planned an initial 5 drill holes, however there is a provision for more drilling as positive results are returned.

Other priority targets will be progressively evaluated.

Figure 2: Coates Ni-Cu-Co-PGE Project summarising the T1 target information and proposed drill hole locations.

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