As a follow-on to the news announced earlier this week, Prime Meridian Resources (TSXV: PMR) this morning revealed a development at its Kelly PGM-Copper-Nickel property. The firm has already begun exploration of the recently expanded property, beginning with an airborne geophysical survey.
Located just twenty kilometres to the east of the crowded Sudbury Basin in Ontario, Prime Meridian’s Kelly project covers a total of 2,418 hectares. With the Basin one of the most prolific regions globally for copper, nickel, and PGM mining, the firm is on the hunt for similar mineralization along the Kukugami Lake Intrusion.
The start of that hunt is set to consist of this airborne geophysical survey, which is slated to cover a total of 300 line-kilometres, based on 100-metre spacing across the entire property. Surveys to be completed include a Helicopter Time Domain EM, or HTDEM survey, as well as a triaxial airborne magnetic survey.
Any identified areas of interest from the survey will then see geophysical work conducted from the ground. The company has noted here that it intends to conduct an induced polarization, or IP survey, over any of the priority targets identified, which includes the Main Zone, which has historically produced samples assaying as much as 4.16 g/t palladium, 1.10 g/t platinum, and 0.6 g/t gold.
A timeline for the completion of the survey was not provided.
Prime Meridian Resources last traded at $0.12 on the TSX Venture.
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