Dynamic Metals Ltd (ASX:DYM) is encouraged by the growing nickel potential of its Lake Percy Project thanks to promising initial assays from a maiden drill program.
The WA Goldfields asset saw 102 holes and nearly 6,400 metres of aircore and reverse circulation drilling, returning assays like:
- 16 metres at 1.11% nickel from 32 metres and 645 parts per million (ppm) copper;
- 26 metres at 0.62% nickel from 20 metres and 145 ppm copper; and
- 6 metres at 0.47% nickel from 40 metres and 249 ppm copper.
The bottom of one hole returned 0.35% nickel, 236 ppm copper and 38% magnesium oxide — all the hallmarks of a fertile nickel sulphide system.
Following the early-stage assays, Dynamic is working on geological and geochemical interpretation to generate, refine and prioritise targets over Lake Percy’s high-priority LP1 and LP2 prospects.
In the meantime, an aircore rig has mobilised to the Widgiemooltha Project to begin drill testing at the Sunday Soak nickel and Mandilla and Higginsville gold targets.
A tale of two targets
Dynamic believes a prominent nickel system is taking shape over the LP1 and LP2 targets, centred on a northern extension to WA’s Lake Johnston Greenstone Belt.
This area is fertile for critical minerals, as indicated by the Emily Ann and Maggie Hays nickel mines and Charger Metals Ltd’s recent Medcalf spodumene discovery.
Location of the Lake Percy nickel camp.
Dynamic generated the 1.5-kilometre LP1 target using a magnetic interpretation, while LP2 is defined by a 1.6-kilometre magnetic feature that is interpreted to be structurally separate from LP1 to the north.
Over the course of its maiden campaign, Dynamic drilled 35 holes over six lines at LP1 and 27 holes over four lines at LP2. The balance of holes was distributed among other Lake Percy targets, such as the LP4 (10 holes), LP6 (7 holes) and the LP8 (16 holes) prospects.
While favourable magnesium oxide ultramafic units were intersected in bottom-of-hole geology and returned some elevated nickel, these targets are considered a lower priority for follow-up based on grade and tenor.
As a result, Dynamic intends to focus on the more prospective LP1 and LP2 for follow-up work.
Where to?
With all eyes on LP1 and LP2, plans to prioritise its best results and conduct further geological and geochemical interpretation.
Additionally, the company will assess results from multiple pegmatites that were intersected during drilling, integrating the dataset with its existing pegmatite knowledge to further lithium exploration.
There’s plenty of interest in Lake Percy’s western ultramafic, which Dynamic regards as an underexplored but interesting opportunity.
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