Peak Minerals (ASX: PUA) has announced ‘significant’ nickel sulphide mineralisation following a diamond drilling campaign at the Lady Alma Prospect within its Green Rocks Project in Western Australia.
The results, generated from 3 diamond drill holes and 1 RC hole with a diamond tail, have returned key grades including:
- 0.13m @ 4.95% Cu, 0.70% Ni
- 0.2m @ 4.18% Cu, 0.15% Ni
- 0.2m @ 1.86% Cu, 0.12% Ni
- 0.3m @ 0.17% Cu, 0.46% Ni
The company reports that these results, combined with recently-released rock chip samples, have mapped a small mafic-ultramafic intrusion that consists of disseminated mineralisation.
Speaking on the results, Peak Minerals CEO Jennifer Neild said: “For a hole that did not effectively test the modelled conductors, these intersections are significant. This system is of fertile, magmatic origin and appears to have scale.
“For a hole that did not effectively test the modelled conductors, these intersections are significant”
When Peak first looked at this project, the target was Cu-Au and thought to be a VMS system. This work confirms a magmatic target and one with the potential to host considerable nickel sulphide mineralisation. All the work completed over the last year has further enhanced the area with thorough geochemistry and mapping. This, combined with high resolution ground geophysics, is going to give us the best chance at unlocking this system.
We are more and more confident that the source is very close. We look forward to completing ground based moving loop EM across these high priority conductors prior to drill testing in Q2 CY22.”
Polished sulphide mineralisation from 374.4m within hole CHRDC004 from 374.4mThe 100%-owned Green Rocks project is located approximately 35km to the south-east of Meekatharra in Western Australia, and covers a total area of 234km².
The recently-finalised diamond drilling campaign was conducted to demonstrate the potential of the already identified Lady Alma and Copper Hills prospects, and to test stratigraphy.
Peak reports that it plans to move forward with investigating copper and nickel tenor at Lady Alma as it awaits results from the Rixon, Renaldi and West Copper Hills prospects following a phase 1 AC drill campaign.
Images: Peak Minerals Ltd
