Dynamic Metals (ASX:DYM) is weighing up further drilling or potential electromagnetics work at its Lake Percy Nickel Project in Western Australia as it awaits assays from a recent bout of drilling.
The junior explorer has completed its phase two drilling work in the area, designed to follow up on shallow nickel drilling results from its previous first-pass aircore program at the LP1 and LP2 targets within the project.
Dynamic drilled 5 reverse circulation (RC) holes under phase two, with assays expected by the end of January 2024 to be incorporated into a geological model as the company plans its next phase of work.
The 5 holes were drilled for a combined 924m, with 4 holes drilled on 4 sections 250m to 300m apart to test a nickel and platinum group element (PGE) anomaly at depth within the LP2 target.
The fifth hole targeted the ‘strongest’ nickel and copper anomaly at the northern extent of the drilling area.
Once assays are received, Dynamic will use the geochemical results to inform the geological model of its Lake Percy targets to determine its next phase of work.
The recent RC work comes after the company completed 102 aircore and RC holes for 6,327m back in April 2023.
Results from this work across the LP1 and LP2 targets include 16m @ 1.11% Ni and 645 parts per million (ppm) Cu from 32m and 26m @ 0.62% Ni and 145 ppm Cu from 20m.
Lake Percy lies roughly 120km west of Norseman in WA, along the Hyden-Norsemen road. Dynamic’s tenements lie on an extension of the Lake Johnston greenstone belt, which is home to the Emily Ann and Maggie Hays nickel mines, as well as Charger Metals’ (ASX:CHR) Medcalf lithium discovery and TG Metals’ (ASX:TG6) Burmeister lithium discovery.
Dynamic Metals had just under $3.7 million cash and cash equivalents at hand as of 30 September 2023, according to its latest quarterly report.
Write to Joshua Smith at Mining.com.au
Images: Dynamic Metals