The Company has secured the Julimar Project, comprising two granted exploration licences (E70/5416) and (E70/5415) located in the Western Yilgarn area of Western Australia.  The exploration licences are broadly in the same area as Chalice’s Julimar discovery and also where multiple other ASX listed entities are currently advancing exploration programs (such as Mandrake Resources and Pursuit Minerals).

 

Lycaon considers that the tenements may be prospective for nickel, copper and PGEs, but limited exploration has been conducted on the tenements to date.

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Initial work programs will consist of reconnaissance exploration including soil sampling, ground EM and gravity survey prior to drilling.