Caeneus Minerals hunting nickel alongside US lithium portfolio

Caeneus Minerals (ASX:CAD) continues to advance dual exploration programs targeting lithium in the U.S. state of Nevada and nickel in Pilbara region of Western Australia

At the Pardoo Nickel Project in Western Australia, Caeneus remains confident that the presence of the Highway deposit indicates the nearby presence of more substantial, higher grade mineralisation.

The Highway deposit measures 44.7 million tonnes at 0.3% nickel and 0.13% copper.

The initial low-grade Highway nickel-copper deposit was revealed by airborne geophysics and it was believed that other mineralisation might be similarly located.

Eight priority-one drill targets

Following the reinterpretation of existing geophysical and drilling surveys, 16 drill targets have recently been identified, eight of which are considered priority-one targets.

It is proposed that the eight defined priority-one anomalies will be assessed by drilling in the latter half of 2017.

This drilling will be reverse circulation and down to depths ranging from 100 to 300 meters for a total of 1,300 meters.

Access tracks will be required to be bulldozed to each of the anomaly sites over a total distance of circa 10 kilometres.

Gold potential

Although the Pardoo Project is considered to be most prospective for nickel-copper it is also considered prospective for volcanogenic base metals and gold.

All intervals of bedrock intersected will therefore be assayed for a suite of base and precious metals.

U.S. lithium projects

Caeneus’ portfolio of lithium projects in the U.S. state of Nevada includes:

– Muddy Mountain (lithium clay);
– Lida Valley (lithium brine);
– Scotty’s South (lithium brine);
– Columbus Marsh (lithium brine); and
– New King (lithium clay).

Story by ProactiveInvestors