Burley Minerals Ltd (ASX: BUR) is a well-funded ASX-listed minerals explorer with Lithium, Iron Ore and Ni-Co-Cu-PGE Projects, located within the World-Class Tier-1 provinces of Quebec, Canada and Western Australia. A recent Agreement to acquire 100% ownership of the Chubb Lithium Project in Quebec, Canada, and the Mt James and Dragon Lithium Projects in the Gascoyne region of Western Australia, was completed on 07 February 2023. The Corporate Head Office is located in Perth, Western Australia.
Burley also owns a 70% interest in the Yerecoin Magnetite iron Ore Project located approximately 120km to the northeast of Perth, Western Australian that has a JORC 2012 compliant Inferred and Indicated Mineral Resource of 246.7Mt capable of producing a concentrate at >68% Fe. Various studies completed by previous operators, included various production scenarios as well as evaluation of infrastructure solutions. Drilling approvals are currently being progressed and a Land Access and Compensation Agreement with a Landowner was recently signed over a key portion of the Tenement.
Burley initially applied for exploration license applications (ELA’s) over three iron ore prospects Cane Bore, Broad Flat Wells and Hardey West in the world class Hamersley Iron Ore Province. The Cane Bore Prospect has 28kms of remnant outcropping Channel Iron Deposit (CID) mineralisation which on average is 400m wide. Broad Flat Well has CID mineralisation confirmed by historical rock chip assays ranging up to 61.5% Fe. An Exploration Licence for Broad Flat Well was issued in September 2022. Countersigning of the Heritage Agreements for the two subsequent ELA’s by the NT Claimant Group are pending.
The Yerecoin Project also has potential for ultramafic hosted Ni-Cu-Co-PGE mineralisation and is located within the Jimperding Metamorphic Belt, only 60kms north of the world class, 20Moz palladium equivalent Julimar – Gonneville nickel-copper-PGE Project owned by Chalice Mining Ltd (ASX: CHN). Helicopter-borne VTEMTM Max electromagnetic and magnetic geophysical survey identifies several EM anomalies. Historical drilling at Yerecoin South magnetite deposit intercepted abundant serpentinised ultramafic rocks adjacent to the BIF over strike length of ~3km and in places up to 150m thick. Drilling approvals are currently being progressed.
More indications of lithium fertility and multiple sub-surface structural targets spur additional diamond drilling into Chubb Lithium.
Burley plan to drill immediately on newly identified and potentially fertile pegmatites at Chubb North.
Diamond drilling continues over Chubb and Burley is moving to metallurgy as it awaits a swathe of results from its...