Ann: EM Survey to Define Drill Targets at The Bull Project, page-2

Anson Commences EM Survey to Define Drill Targets at
The Bull
Highlights:
• Fixed Loop Electromagnetic (FLEM) survey has commenced over the 1,400m long x
500m wide x 500m deep chonolith body interpreted from the Drone Magnetic Survey
• FLEM aims to identify EM bedrock conductor plates which could be the response of
massive sulphide mineralisation
• Conductor plates would be considered a priority targets for future drill programs
• The Bull Project is in the same geological terrane, ~20km south of Chalice Gold
Mines Limited’s (ASX: CHN) Julimar Ni-Cu-PGE discovery in WA
• Anson is following the exploration pathway established by Chalice to discover
Julimar - results from the FLEM survey expected in August 2021
Anson Resources Limited (ASX: ASN, ASNOC) (Anson or the Company) is pleased to advise that
it has commenced a Fixed Loop Electromagnetic (FLEM) survey at the Company’s 100% owned
The Bull Project in Western Australia.
The commencement of the FLEM follows the completion of the 3D Aeromagnetic Inversion Model
(see ASX Announcement 7th July 2021) which confirmed the favourable geometry and mineralised
potential of the Target 1 ovoid shaped anomaly at The Bull Project. The FLEM survey is an
important next step in identifying and refining targets for future drill programs.
Figure 1: The planned layout for the Fixed Loop Electromagnetic Survey (FLEM).2
Anson’s Executive Chairman and CEO Bruce Richardson commented: “We are excited to be
commencing this next phase of exploration at The Bull Project, which will allow our technical team
to generate and refine a suite of targets for planned drill testing later this year. We have a clear
exploration strategy in place and from our work to date The Bull has shown clear potential to host
a large mineralised system. We are exploring in a highly sought-after address with Julimar only
20km north of The Bull, so we are looking forward to rolling out our exploration strategy over the
coming months.”
Independent geophysical consultants have designed the FLEM survey at The Bull Project to
completely cover the 3D magnetic model, see Figure 2. The aim is to identify bedrock conductors
within the anomaly given the relative shallow depth of the target, which may represent massive
sulphide accumulations.
The data generated from the FLEM survey will be considered with other geophysical surveys to
identify drilling targets and prepare a Programme of Works (PoW) for submission to the Department
of Mines, Industry Regulations and Safety (DMIRS).
The intrusive at The Bull is modelled as an approximately 1,400m long x 500m wide x 500m deep
chonolith body (an igneous rock intrusion of irregular shape but with a demonstrable base), see
Figure 3, which correlates with the previous magnetic imagery.
The interpreted chonolith geometry is considered significant, as similar irregular intrusive bodies
host globally significant magmatic Ni-Cu+/-PGE sulphide deposits including the Jinchuan Deposit
in China and the Kabanga Deposit in Tanzania.
Figure 2: Photo of the Fixed Loop Electromagnetic Survey (FLEM).
Anson has been methodically advancing exploration at The Bull with reprocessing historical
aeromagnetic data, carrying out Drone Magnetic and Ground Gravity surveys along with geological
mapping and rock chip sampling which is indicating good potential for a mineralised system.
Given the proximity and similarities with the Julimar discovery, The Bull represents an extremely
exciting exploration target with considerable Ni-Cu-PGE potential. The exploration programs
completed to date are shown in Table 1.3
ATTRIBUTES JULIMAR DISCOVERY
(CHN)
THE BULL PROJECT
(ASN)
COMMENTS
Jimperding Metamorphic Belt ü ü The Bull (20km south of Julimar)
Exploration Started 2018 2020
Distinct high intensity ovoid magnetic
anomaly in airborne magnetics ü ü Ovoid anomaly
1500*700m
Surface rock chips anomalous for Ni and
Cu ü ü Mapping and rock chip sampling
program completed
Distinct internal complexity/character ü ü Drone Magnetic Survey
completed
3D Magnetic Inversion Model ü ü 3D Model complete
(1400m*500m*500m chonolith)
Multiple discrete conductive ground EM
anomalies ü ü Ground EM survey
(locate conductor plates)
Broad Drilling Intercepts ü ? Drilling to target interpreted
conductor plates
Significant PGE Discovery ü ?
Table 1: Comparison of the Julimar Discovery and the Bull Project.
Figure 3: Plan showing the RTP magnetic image draped over the 3D interpreted model at The Bull.4
This announcement has been authorised for release by the Executive Chairman and CEO