Constellation Resources Limited (Company or Constellation Resources) holds an interest in the prospective Orpheus Project in Western Australia.
The Orpheus Project consists of six tenements covering approximately 443km2 in the Fraser Range province of Western Australia. In the Fraser Range, certain Proterozoic mafic/ ultramafic intrusion suites are prospective to host nickel-copper sulphide mineralisation. The region is currently experiencing high levels of exploration activity for nickel following the Nova, Silver Knight, Mawson and Lantern discoveries.
The Orpheus Project includes a 70% interest in three mineral exploration licences (E28/2403, E63/1281 and E63/1282) and one mineral exploration licence application (E63/1695). The granted exploration licences form part of a joint venture between the Company (70%) and Enterprise Metals Limited (“Enterprise”) (30%, ASX: ENT). Pursuant to the joint venture agreement, the Company is responsible for sole funding all joint venture activities on the tenements, which form part of the joint venture, up to completion of a bankable feasibility study.
Additionally, the Company has further 100% interests in two exploration licences (E28/2738 and E28/2957).
The Orpheus Project comprises six tenements covering approximately 443km² in a prospective portion of the Albany-Fraser Orogen (AFO), commonly referred to as the Fraser Range province…
Pursuant to the Joint Venture Agreement between the Company and ENT, the Company is required to sole fund all activities on the Joint Venture Tenements until completion of a Bankable Feasibility Study.
The AFO is considered prospective for nickel, copper and gold, and has attracted significant exploration since the discovery of the Nova deposit in 2012 in mafic and ultramafic rock types.
Recent field assessment has confirmed three priority targets (two nickel-copper sulphide targets and one gold target) on tenements E63/1281 and E63/1282. Gravity surveys completed in 2017 have resulted in the identification of two priority nickel-copper sulphide targets on E28/2403.
Within E63/1281, previous drilling has intersected disseminated to blebby magmatic nickel-copper sulphides (uneconomic) at the Plato prospect. This represents a significant proof of concept for the exploration rationale searching for magmatic nickel-copper sulphides in the area.