Battery minerals explorer Resource Mining Corporation (ASX:RMI) has started a diamond drilling program at the Liparamba Nickel Project in Tanzania.
The company, which has a market capitalisation of $26.81 million, says the purpose of the program is to test for the presence of nickel sulphide mineralisation.
A total of 12 holes — each between 150m and 200m deep — will focus on a number of coincidental geophysical and geochemical targets that were identified during a recent audio-frequency magnetotellurics (AMT) survey, as well as in previous geochemical and soil sampling work undertaken by BHP (ASX:BHP) and Albidon.
Resource Mining Corporation Executive Chairman Asimwe Kabunga says: “With the strength of the evidence mounting at Liparamba, including the confirmation of nickel sulphides within field samples and the first diamond drillhole, samples from our recent RC drilling, as well as findings from our AMT geophysical survey and historical AEM data, we are excited to now be testing this highly prospective target with a 12-hole diamond drilling campaign testing to the depths that the targets were identified.”
“we are excited to now be testing this highly prospective target with a 12-hole diamond drilling campaign testing to the depths that the targets were identified“
The company notes the program is expected to take 6 to 8 weeks, with assay results anticipated to be reported during the next 3 months.
Resource Mining Corporation is an ASX-listed exploration company focused on exploring for battery minerals such as lithium and nickel in Tanzania and Finland. The company had 4 projects in Tanzania and 3 in Finland.
As of 30 June 2023, the company had $873,000 cash and cash equivalents at hand, according to its latest quarterly report, though it launched a $2 million capital raise in August.
Write to Aaliyah Rogan at Mining.com.au
Images: Resource Mining Corporation