The Nova East and Nova West Projects are a consolidation of 10 granted tenements over an area of 873km2. The Directors have consolidated a strategic landholding from two separate vendors, the largest of any Junior Explorer in the AFO. Investment by the Company will be undertaken at Nova East and Nova West Projects to explore for nickel, gold, copper and base metals. DMC’s tenements are situated within the highly prospective Proterozoic Albany-Fraser Orogen which hosts two world class and relatively recent discoveries in Nova-Bollinger, and Tropicana. Tropicana, in the north-eastern part of the belt is an orogenic gold deposit reporting 41Mt @ 1.62 g/t Au (2.1Moz).
Nova-Bollinger is a world class nickel-copper deposit in mafic/ultramafic reporting 13 Mt @ 2% Ni + 0.8% Cu + 0.07% Co. Both these assets are owned by Independence Group. Since discovery of the Nova-Bollinger Ni-Cu-Co deposit by Sirius Resources Ltd in 2012 the Albany-Fraser Orogen (AFO) has been subject to intensive exploration efforts by numerous companies.
The Fraser Belt is not just prospective for magmatic nickel-copper sulphide and orogenic gold. IGO have identified several VMS occurrences, the most prospective being Andromeda (29.9m @ 1.36% Cu, 2.51% Zn, 19.9ppm Ag, and 0.36ppm Au)
Magmatic nickel and copper sulphide orebodies frequently occur in clusters globally. Thus far there are two discoveries and a large number of mineral occurrences.