Musgrave Ni-Cu-Co and PGE Project
Musgrave Ni-Cu-Co and PGE Project
The Musgrave Project comprises two Exploration Licences and eight Exploration Licence Applications (ELAs) held, or under farm-in, by wholly-owned Power subsidiary, NiCul Minerals Ltd. The Project covers 14,003km2 within the Anangu Pitjantjatjara Yankunytjatjara (APY) Lands, in the Musgrave Province of north-west South Australia. Power’s Musgrave project area positions it as the dominant landholder in what is one of the most prospective and under-explored mineralised belts in the world.
Power’s priority target is the Pink Slipper geophysical anomaly, which is part of a Farm-in and Joint Venture Agreement (FJVA) with Rio Tinto Exploration Pty Ltd (a wholly owned subsidiary of Rio Tinto Ltd) covering four ELAs. Pursuant to the FJVA with Rio Tinto Exploration, Power has the right to earn a 51% equity in the four FJVA ELAs by progressing the Pink Slipper ELA to grant and meeting certain farm-in expenditure obligations.
We completed a preliminary heritage survey at Pink Slipper in October 2023 as an important step towards proposed on-ground exploration, subject to securing a Deed of Exploration with APY.
We also confirmed new areas prospective for copper mineralisation at the Mt Harcus and Mt Caroline targets, following a systemic analysis of historical drill samples. Both these copper target areas are located within granted exploration licence areas held 100% by Power and represent exciting target models for future exploration programs, including drilling to test below the surface cover sequence.
