Lycaon Resources (ASX:LYN)
is set to acquire the Bow River and Salt Lick nickel copper sulphide projects in the East Kimberley region of Western Australia.
Lycaon said the projects haven't had any modern exploration for over a decade, prior to the discovery of Savannah North, which increased the geological understanding of the region.
“The acquisition of the Bow River and Salt Lick nickel copper sulphide projects provides an extremely exciting opportunity for the company to explore for key minerals needed for the accelerating global demand of critical and battery minerals,” said technical director Thomas Langley.
“The Bow River project, in particular, is very encouraging and has the early signs of a major discovery in the making, with nickel and copper mineralisation associated with sulphides in drilling.”
Shares are trading over 20 per cent higher at 53 per cents.