Western Australian nickel sulphide explorer NickelSearch (ASX:NIS) has been awarded an Exploration Incentive Scheme (EIS) grant of up to $220,000 to fund drilling at its Carlingup Project in Western Australia.
The company which Medallion Metals (ASX:MM8) holds a 15.1% interest in reports the funds will be used to conduct a deep diamond drilling program. This program aims to confirm volcanic-hosted massive sulphide (VHMS) within the Chester Formation sediments, the structural interpretation of Carlingup, along with discovering ‘high-grade’ nickel sulphides like those found at the RAV8 mine site.
These funds will also be used to further test the historical diamond hole RAVD120 which was originally drilled in 2011. NickelSearch says this hole could not be completed to the target depth and as a result, failed to test the deep basal ultramafic contact for ‘high-grade’ nickel-cobalt-copper-platinum group elements.
NickelSearch says the EIS grant will reimburse up to 50% of direct diamond drill costs, as well as a portion of mobilisation costs to a combined total of $220,0000.
The company says the RAVD120 diamond hole is scheduled to be drilled by Q3 2023 when the ground is considered suitably dry for a drill rig to mobilise. NickelSearch also notes this drillhole will likely be combined with a wider diamond drilling campaign at other targets within Carlingup.
“We envisage drilling will occur by Q3 FY2023, weather permitting”
Commenting on the grant, NickelSearch Managing Director Nicole Duncan says: “NickelSearch is delighted to receive the EIS co-funding grant and we acknowledge the continued investment by the WA government that supports mineral exploration and assists our company to search for battery minerals required to move towards cleaner energy sources.
The prospectivity of RAVD120 has been on our radar for some time, so the successful application for co-funding has provided the investment we need to schedule in the drilling at depth that is required to test the target area. We envisage drilling will occur by Q3 FY2023, weather permitting.”
NickelSearch is a Western Australian nickel sulphide exploration company focused on advancing its flagship Carlingup Nickel Project near Ravensthorpe. Carlingup has an existing resource base of 155,000 tonnes of contained nickel.
Images: NickelSearch Ltd
