NickelSearch (ASX:NIS) has highlighted ‘outstanding’ growth potential following a downhole electromagnetic (DHEM) survey at the Sexton target, as part of its Carlingup Project in Western Australia.
The company says results generated by a DHEM survey conducted following a regional reverse circulation (RC) program, indicate potential for ‘significant’ extensions to nickel sulphide mineralisation, as well as high to very high conductive sources which confirm the prospectivity for massive sulphides.
NickelSearch notes DHEM surveys were conducted by Gem Geophysics on holes 23NRC011 and 23NRC012 and returned a peak conductance of up to 50,000 siemens in the lower plate to the east of hole 23NRC012, as well as 6m of massive and matrix sulphides from 149m downhole.
These plates are reported to extend 80m down-dip to the south and about 150m down plunge to the southeast, and are coincident with historic nickel sulphide intersections, giving the company confidence in the extensional targets for planned follow-up drilling scheduled for Q2 2023.
According to Paul Bennett, Managing Director of Medallion Metals (ASX:MM8), which holds a 15.1% interest in NickelSearch, as a significant shareholder it remains ‘very optimistic’ about NickelSearch’s ground holding around the Sexton target and the company’s capability to generate new discoveries.
“That ground holding has not really been looked at for approximately 20 years and it certainly hasn’t had modern exploration techniques applied to it. And we think there’s huge scope for new discoveries within 300m to surface.
“we think there’s huge scope for new discoveries within 300m to surface”
Overall, it’s a really exciting story.”
Echoing those sentiments, NickelSearch Managing Director Nicole Duncan adds: “We are excited to see strong indicators that Sexton has the potential to progress into a significant nickel discovery. The modelled DHEM plates and visual mineralisation intercepted in the maiden drill program suggest mineralisation extends at depth and down-plunge. The very high conductivity of the DHEM plates also highlights the potential to intersect a high-grade channel, which will be a focus for follow-up drilling.
“We are excited to see strong indicators that Sexton has the potential to progress into a significant nickel discovery”
The recent drilling results and success of the DHEM surveys gives us confidence in continuing with systematically testing our 30+ greenfields targets defined across Carlingup.
We look forward to commencing follow-up drilling at Sexton and maiden RC and diamond drill programs at greenfields targets, Lipple, Wadley, and John Ellis West in Q2 CY2023.”
NickelSearch further reports the plunge orientation of the DHEM plates shares similarities to that seen in the RAV8 deposit, located 3.5km to the east, and indicates the Sexton plates are following regional trends rather than apparent dip.
The company also notes drillhole 23NRC012 has also been checked with a pXRF handheld device, with results suggesting the sulphides are nickel bearing, however laboratory assays from recent drilling are yet to be received.
NickelSearch is an ASX-listed company focused on advancing its wholly owned flagship Carlingup project, which is located near the township of Esperance in Western Australia. The project currently boasts an existing resource base of 171,000 tonnes of contained nickel, as well as multiple high priority, drill ready resource extension targets.
Carlingup comprises 5 currently known nickel sulphide deposits at RAV1, RAV4, RAV4 West, RAV5, and RAV8 spread along over 10km of strike length, and are known to contain shallow mineralisation open in most directions.
Images: Medallion Metals Ltd
