Native Mineral Resources Holdings has boosted its coffers as it plans a busy start to 2022, including work at its Maneater silver, lead, copper and gold breccia in North Queensland.

The company has raised a total of $3,000,756 (before costs) in a rights issue and shortfall placement.

It said the proceeds would be used to expedite exploration activities.

“NMR is anticipating an extremely busy and productive Q1 2022,” managing director and chief executive officer Blake Cannavo said.

The company planned to carry out drilling at its Helios nickel target near the western Nullarbor in south-eastern Western Australia, he said.

It was also planning to be on the ground at its newly-acquired Maneater project – where previous owners’ diamond drilling results demonstrate the presence of silver, lead and zinc sulfides.

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“NMR are comparing the geochemical zoning to the Mount Wright breccia and gold mine located further south near the town of Ravenswood where greater than 1 Moz gold was produced from the breccia below the silver, lead and zinc dominated zone,” Mr Cannavo said.

“NMR are using the geological features of Mount Wright to help direct new drilling below the current limit of the previous drill hole.”

He said the company was in the process of planning the airborne survey over its flagship Palmerville copper-gold project area in Queensland.

It was also completing two additional airborne magnetic surveys over its Music Well and Arcoona tenements in Western Australia.

“We have an exciting 2022 exploration and drilling program across the tenement portfolio and look forward to
updating shareholders with our updates in the coming weeks,” Mr Cannavo said.

Below: Native Mineral Resources Holdings’s Maneater project in North Queensland.