Nelson Resources acquires tenure bordering Thunderstorm JV in WA’s Goldfields

Nelson Resources acquires tenure bordering Thunderstorm JV in WA’s Goldfields

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Nelson Resources Ltd (ASX:NES) has acquired tenement E28/2805, which is adjacent to the Thunderstorm joint venture of Independence Group NL (ASX:IGO) and Rumble Resources Ltd (ASX:RTR). The newly named Tempest project is also close to the company’s existing Woodline project in the Albany-Fraser Range, a region prospective for nickel-copper-cobalt and gold, amongst other minerals. Nelson believes Tempest has the potential to host a gold resource and the company expects to re-evaluate historical exploration work and conduct several targeted geophysics programs. These geophysics programs will guide the planning of a drilling program designed to target the paleochannel and other potential gold-bearing structures. Potential of a ‘significant discovery’ Nelson has acquired the 115 square kilometre tenement for $15,472 and a 1% gross revenue royalty in relation to minerals extracted, produced and sold from the licence. The company believes Tempest has the potential to host a ‘significant’ discovery as highlighted by IGO's successful drilling at the Thunderstorm JV. Acquisition of this tenement increases the company’s significant tenure holding in the Albany-Fraser range to 963 square kilometres and compliments its Woodline project, which the company believes could host a Tropicana gold deposit. Background Nelson’s 105 square kilometre Tempest project is on the eastern boundary of the Thunderstorm project, where IGO's recent drilling included aircore results of 25 metres at 2.42 g/t gold at Themis prospect and 4 metres at 3.8 g/t at Pion prospect. Rumble announced that it considers the Themis results to be “the most significant gold intersection in the Fraser Range in recent years outside of the Tropicana gold system”. The tenement is close to the company’s existing Woodline project in the Albany-Fraser range and as part of its JV with Rumble Resources, IGO has been conducting an aggressive exploration program throughout this region.

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