DevEx Resources (ASX: DEV) reports that it has intersected an ‘extensive’ intrusive sequence including disseminated nickel-copper sulphides from its initial two diamond drill holes at the Sovereign Nickel-Copper-PGE Project in Western Australia’s Julimar Province.
The company reports that wide intervals of low-grade disseminated nickel-copper sulphide mineralisation have been observed in the program’s second hole, including narrow bands of matrix textured iron-nickel-copper sulphides.
“The outcomes of these two widely-spaced stratigraphic holes have exceeded our expectations and given us confidence that we are very much on the right track with our exploration approach”
The results are described by DevEx as exceeding expectations, with Managing Director Brendan Bradley commenting: “We are methodically ticking the boxes towards what we all hope will be a game-changing discovery at Sovereign. The outcomes of these two widely-spaced stratigraphic holes have exceeded our expectations and given us confidence that we are very much on the right track with our exploration approach.
In addition to confirming the presence of the right intrusive host sequence over significant widths, we have intersected nickel-copper sulphide mineralisation in Hole 2 – which is a remarkable result for what was essentially stratigraphic drilling to understand the framework of just a small part of the intrusion.
While we caution investors that the broad disseminated mineralised intervals encountered in this hole are likely to be low-grade, seeing the iron-nickel-copper sulphides both as disseminated and in narrow matrix textured bands is an exciting development which suggests that this is very much a ‘live’ system capable of hosting economic mineralisation.”
DevEx’s Sovereign Project, located north of Chalice Mining’s Tier-1 Gonneville DiscoveryThe two diamond holes, spaced 550m apart, included a total of 921m of drilling and were tasked with testing the central region of the Sovereign mafic-ultramafic intrusion, providing further data on geometry and geology.
DevEx reports that an ‘extensive’ ground electromagnetic survey has already commenced across the 12km-long intrusion, which is expected to be paired with down-hole surveys in late November to generate further data on potential accumulations of massive sulphide mineralisation.
Additional diamond drilling it also planned to commence in December to test the northern end of the intrusion.
The Sovereign Nickel-Copper-PGE Project is situated to the north of Chalice Mining’s Tier-1 Gonneville Ni-Cu- PGE discovery, which recently returned a record-breaking maiden MRE of 10Moz Pd+Pt+Au (3E), 530kt Ni, 330kt Cu and 53kt Co.
Images: DevEx Resources Limited
