PEL 0.00% 1.7¢ pelican resources limited

♦ The Ashburton Project is rated as an exploration priority by...

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    ♦ The Ashburton Project is rated as an exploration priority by Peak
    Resources
    ♦ IP survey to be undertaken as precursor to RC drilling programme to
    better define drill targets within > 5km long “structural trap” that has
    a coincidental geophysical and geochemical anomaly.
    ♦ Gravity anomaly co-incidental with EM anomaly and anomalous Pb,
    Zn, and Ag rock chips.

    ♦ Rock chip sampling has highlighted the polymetalic nature of
    mineralisation within the Ashburton Project. Assay results include:
    ∗ Iron greater than 50% Fe;
    ∗ Silver of up to 46.5 ppm;
    ∗ Cobalt of up to 1.9% with 0.28% Ni;
    ∗ Elevated Manganese (greater than 10% detection limit); and
    ∗ Elevated lead (over 1%).
    ∗ XRF assays pending on high Fe and Mn results.
    ♦ Geochem programme undertaken in conjunction with the Gravity
    Survey at Mt Vernon that identified a large structural embayment
    associated with a lithological contact.
    ---------------------------------------------
    What more does want for explotration.
    5km alteration
    5km geochem anomaly etc etc
    Whatever it is its big.
 
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