Dynamic Metals (ASX:DYM) is kicking off a reverse circulation (RC) drilling program at the D3 and D5 prospects within its Widgiemooltha Project in Western Australia.
The $13.22 million market capitalisation company plans to drill up to 12 drillholes to test the 2 nickel targets. Drilling is expected to be completed within a week.
This news comes after Dynamic reported that samples from a geochemical analysis conducted at the Lake Percy Project returned platinum (Pt) and palladium (Pd) in fresh rock from drillhole DYR065.
Dynamic says this provides further support for the presence of a fertile nickel sulphide system.
The company submitted a fresh rock bottom-of-hole sample from drillhole DY065 for platinum group element (PGE) assaying which returned 2m @ 160 parts per billion (ppb) Pt and 43ppb Pd, in addition to 0.35% nickel (Ni), 236 parts per million (ppm) copper (Cu), and 38% magnesium oxide (MgO).
The company says the significance of these results demonstrates how anomalous these results are compared to other data points collected in both the regolith and fresh rock profile in high MgO ultramafic samples, where the average Pt and Pd concentrations are 4ppb.
Dynamic is now reprocessing historical geophysical surveys over this area to guide the next phase of deeper drilling in the search for massive sulphide nickel in this ‘underexplored’ greenstone belt.
Dynamic Metals is an exploration companyffocused on advancing its ‘highly prospective’ portfolio of critical minerals projects in Australia. The company’s portfolio of assets includes the Deep Well, Widgiemooltha, and Lake Percy projects.
As of 30 June 2023, the company had $4.4 million cash at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Dynamic Metals
