About PLD Corporation Limited
PLD Corporation Limited (ASX:PLD) is currently undertaking an operational review of its business and assets with the evaluation of new opportunities.
The Company has recently entered into two (2) binding Option Agreements for an exclusive 12 month period to acquire the Rocky Gully Nickel Copper Project, located in the Albany-Fraser Belt, Western Australia, one of the world’s most exciting mineral exploration terrains. The Company has paid $50,000 cash to secure the Option Agreements and will pay a total of $280,000 in cash and/or shares (at $0.08 per share), at the company’s election, to exercise the Option for a minimum 90% of the Rocky Gully Nickel Copper Project.
The Albany Fraser Belt, WA, is considered analogous to the prolific Thompson and Cape Smith Belt in Canada being host to multiple Proterozoic Nickel-Copper deposits which are generally large tonnage, high grade, low operating cost and capital efficient operations. The analogy has recently been demonstrated by the discovery of Sirius Resources Limited (ASX:SIR) Nova-Bollinger Nickel-Copper Deposit, located in similar terrain to the Rocky Gully Project.
The Rocky Gully Nickel Copper Project covers a total area of ~1,200km2, and is underlain by Proterozoic rocks with late stage mafic to ultramafic intrusions, which are favourable hosts for Nickel-Copper sulphide mineralisation, identified in the area. To date, two (2) high priority and eight (8) priority targets have been identified with a further twenty (20) targets to be progressed.
The high priority targets at M19 and M20 have been identified from (1) soil sampling which has defined a number of coincident nickel and copper anomalies (2) geophysical surveys have outlined bullseye targets and electromagnetic conductors and (3) shallow RAB drilling which has identified primary nickel copper sulphide mineralisation.
The company is currently progressing all targets with a comprehensive program of exploration, including soil sampling, geophysical surveys and RAB/RC drilling, seeking Nova-Bollinger type Nickel Copper deposits.