Kathleen Valley Western Australia
The Kathleen Valley Project is located on Yakabindie Station, approximately 650km northeast of Perth and 30km north of the township of Leinster in Western Australia. The project comprises an Exploration Licence (E36/876) of approximately 7 km2 in area (700 hectares). The sealed Goldfields Highway runs only 2km west of the project area and access to the project area is possible along station and exploration tracks from the highway.
The project is currently held under option with the project vendors, in a 50:50 joint venture with Australian public company Metal Rocks Ltd. TP Energy has the right to increase its project interest in the option to 80%.
The project is part of the Cosmos Nickel Complex, which created the historic Jubilee mines success. The company is currently having the historical geophysical data remodelled with geological input which has revealed a 300-meter-long electromagnetic anomaly which appears to be a legitimate bedrock conductor.
This project has the potential to represent a new mining opportunity for the company, based on the success of surrounding assets. Significant nickel sulphide mineralisation in the region occurs at Cosmos-Odysseus (10.4Mt @ 2.6% Ni; Western Areas), located 2km southeast of the project area, and at Yakabindie (270Mt @ 0.53% Ni; BHP Billiton), located 10km north of the project area.
The Kathleen Valley Project presents a potential opportunity for the Company to generate significant economic value given the success of surrounding projects with TP Energy management having identified Kathleen Valley as a high priority project for 2019.