Auric Mining Ltd (ASX:AWJ) has revealed the presence of nickel mineralisation at Chalice West Project in Western Australia, adding to the rare earths and gold potential already identified on the tenure.
An aircore drilling program revealed nickel intercepts in about half of generated results, with assays of note including:
- 9 metres at 3,636 parts per million (ppm) (0.36%) nickel, including 2 metres at 6,663 ppm (0.67%) nickel; and
- 13 metres at 2,116 ppm (0.21%) nickel.
The company believes the presence of strong nickel anomalism in the weathered rocks of the ultramafic units points to the potential for sulphide nickel mineralisation at the Chalice West Project.
Opportunity for several commodities
“This initial aircore drilling program has highlighted the exciting opportunities at Chalice West for several commodities, particularly REE and nickel, in addition to gold,” Auric Mining managing director Mark English said.
“We’ve intersected high REE grades in clays, one result being 4 metres at 3,591ppm TREO (total rare earths oxides) including 1-metre at 11,038ppm TREO with favourable chemistry that is linked to a strong prospective 7-kilometre magnetic feature as well as some good nickel results.
“A strong magnetic high nearby represents another enticing target. Drilling has identified three weathered ultramafic units, two of those with strong nickel anomalism.
“Our exploration model for nickel compares the new setting with the nearby Widgiemooltha Dome, host to numerous komatiite-hosted nickel deposits.
“This is the first phase of results from our exploration program, it provides a great stepping stone for exploration and potential development of what could be a fertile new area for multiple commodities.”
In total Auric has now identified two ultramafic units prospective for nickel, a 7-kilometre-long magnetic feature associated with REE mineralisation, and a 5-kilometre-long strike prospective for gold mineralisation.
The company’s next move will be to survey the project with a ground electromagnetic (EM) survey.