Aston Minerals (ASX: ASO) has reported a ‘substantial’ nickel-cobalt discovery at the Boomerang Target within its Edleston Project in Canada.
Hole DDED21-076, which ended in mineralisation, delivered intersections of 282.5m @ 0.43% Ni and 0.014% Co from 67.5m; including 163.5m @ 0.52% Ni and 0.016% Co from 186.5m, with the final 18m of hole reporting 0.66% Ni and 0.014% Co from 331.7m. Modelling has indicated true width of intrusion to be ~600m and depth to be >1,500m.
The company notes that the grades of mineralisation are analogous to BHP’s Mt Keith Mining Operation in Western Australia.
Speaking on the results, Aston Minerals Executive Chairman, Tolga Kumova said: “Aston is uniquely positioned to capitalise on the burgeoning demand for nickel which has recently reached the highest price since 2011, while nickel inventories are at historically low levels.
The drilling conducted to date at the Boomerang Nickel-Cobalt Sulphide Target has shown that the scale and tenor of mineralisation is comparable to other globally significant mining operations such as BHP’s Mt Keith Operations. Our aim is to define a substantial resource base and conduct associated metallurgical and engineering studies this year to be able to quantify the economic potential of this Project.”
“The substantial intersection at Bardwell Prospect has exceeded our expectations in relation to both the grade and extent of mineralisation”
Managing Director Dale Ginn added: “The substantial intersection at Bardwell Prospect has exceeded our expectations in relation to both the grade and extent of mineralisation. To have such broad zones of mineralisation at comparable grades to that of Mt Keith so early on in our nickel exploration program provides us with a huge degree of confidence in the potential of the system.
We have commenced a resource definition drilling program, aiming to systematically expand along approximately 1km of strike and to the depth of the presently identified area of mineralisation at Bardwell. Exploration drilling also continues along an additional 5.5 kms of length on the Boomerang Nickel Target. To date, magnetic inversion modelling has a very high degree of correlation with the interpreted mineralised envelope.”
The Boomerang Target was identified via a geological interpretation undertaken based on recent drilling and reprocessing of magnetics.
Current results come from 13 holes drilled for 5,959m across three sections of the target, where nickel sulphide mineralisation was identified in logging and verified through handheld XRF.
Boomerang cross section displaying several holes including DDED21-076Moving forward, the company reports that it has plans to undertake additional exploratory drilling along the 5km strike length of the Boomerang Target.
Aston has also reported that it has commenced resource definition drilling across the Bardwell portion of the target, covering approximately 1km of the total 6.5km prospective strike of the intrusion.
Results are also expected from hole DDED21-075 which contains a 730m interval of host dunite intrusive unit, starting from 20m below surface. The hole is currently being extended to a depth of approximately 1,200m.
Images: Aston Minerals Limited
