Native Mineral Resources Holdings (ASX:NMR) received a new five-year exploration permit for minerals (EPM) 28847 by Queensland authorities, expanding its Palmerville project west of Cairns and enabling further target refinement following last year's geophysical survey, according to a Monday filing with the Australian bourse.
EPM 28847 or Wrotham encompasses 18 sub-blocks that are surrounded by the company's EPM 26895, the filing said.
Wrotham fills a gap in the Palmerville project, enabling exploration of six key targets in the structurally complex big bend anomaly, where the Chillagoe Formation shifts and magnetic and radiometric anomalies reveal fault intersections near the intrusive complex, the filing added.
The company's shares jumped almost 5% in recent Monday trade.
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