New Venture Aims For Western Australian Frontier Discovery
Auckland, May 4, 2015 AEST (ABN Newswire) - (Previously Released on May 1, 2015) ASX Listed Strategic Elements (
ASX:SOR) is pleased to announce a collaboration with one of Western Australia's most respected economic geologists who recently retired after 21 years with the Western Australian government. The collaboration with Dr Franco Pirajno has been formed to conduct frontier exploration in Western Australia targeting areas that may have seen basic mapping by the Western Australian government but limited commercial exploration. Importantly, these areas will have potential for styles of mineral deposits more commonly known overseas.
Dr Pirajno has extensive experience mapping and studying mineral systems in many different countries around the world and is well qualified to oversee the technical team. As testament to the high regard in which he is held, in January 2015, the Premier of the P. R. of China personally presented Dr Pirajno with the highest prize for foreign scientists, the International Scientific and Technological Cooperation Award. As current Editor-in-Chief of a prestigious international journal on mineral deposits, he is exposed to ore genetic models from all over the world whilst having 165 of his own peer reviewed papers published, in addition to being the author of four books.
Large areas of Western Australia remain virtually unexplored in terms of mineral potential and the Company believes that exploration of these frontier areas with different models of mineralisation provides the best chance for making a significant new discovery. It is significant that prior to the Nova discovery by Sirius Resources, few explorers had thought of targeting the Fraser Range for a magmatic nickel sulphide deposit, a style of deposit known in Canada, but never before seen in Australia. The Company believes that focusing on the combination of unexplored areas with deposit models more commonly found overseas is the best strategy towards a new discovery.
Previously to his long tenure with the Western Australian government where he spent extensive time in the field, Dr Pirajno had a successful career with the large multinational Anglo American Corporation of South Africa in Africa and Australasia. This cumulated with his appointment as Exploration Manager for the New Zealand and the SW Pacific, Dr Pirajno was also part of the team that successfully made several copper discoveries in Africa during his time with Anglo.
For disclosure, it is noted that Dr Pirajno will receive equity compensation through consulting fees and share options. Once these options are converted into shares, they will qualify to be sold 'capital gains tax free' due to Strategic Elements special registration by the Federal Government as a Pooled Development Fund.
"After 21 years of field mapping and studying mineral systems in Western Australia on behalf of the Western Australian government, I am excited to be able to work with the team at Strategic Elements to put some of the concepts and ideas I have into place.", said Dr Pirajno.
"Western Australia is well endowed with world-class mineral deposits, such as those in the Eastern Goldfields, the Pilbara and in the Kimberley block. There remains however large swaths of land where the potential for different styles of mineral deposits may not have been fully considered, such as sedimentary basins with good potential for base metals, cobalt and uranium".
Exploration assets are being developed through a 100% owned investee Company funded by ASX listed Strategic Elements Ltd. The team is currently securing projects with Dr Pirajno and will update the market when this is finalised.
About Strategic Elements Ltd
Strategic Elements (ASX:SOR) shares are listed on the Australian Stock Exchange under the code “SOR”. The Company is registered under the Pooled Development Program run by the Australian Federal Government to encourage investment into SME’s. To assist Pooled Development Fund’s to invest and raise capital, the Federal Government enables most shareholders in a Pooled Development Fund to make capital gains and receive dividends tax-free.
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