Dynamic Metals Ltd (ASX:DYM) is off to a great start in the new year by completing its first drill program since listing on the ASX last month.
Five reverse circulation (RC) holes were drilled for a total of 736 metres at the Dordie Far West nickel prospect within the Widgiemooltha Lithium-Nickel-Gold Project in Western Australia.
Drilling was undertaken on four sections over a strike length of about 300 metres.
Plan view of Dordie Far West with historical drill intercepts over magnetic imagery.
The drill program was designed to test for Kambalda komatiite type massive sulphide mineralisation which is interpreted to occur where the base of the komatiite stratigraphy is in contact with the underlying basalt, known as the ‘basal contact’.
Two of the five drill holes intersected the basal contact and all samples have been submitted to the laboratory in Kalgoorlie for analysis.
This is the first of four fully permitted drill programs expected to be completed at the Widgiemooltha Lithium-Nickel-Gold Project during the first half of 2023, in addition to a regional air core (AC) program at the Lake Percy Lithium-Nickel Project.
Oversubscribed IPO
Dynamic was formed by spinning out the Western Australian battery and precious metal assets of Jindalee Resources Ltd (ASX:JRL) which are prospective for a range of “future-facing” minerals critical to the global efforts towards decarbonisation, being lithium, nickel and PGEs, as well as gold.
The company started trading on the ASX on January 16, 2023 following the completion of its strongly supported and oversubscribed IPO which raised the maximum subscription of $7 million.
Dynamic’s three main projects are:
- the 100% owned Widgiemooltha Lithium Nickel Project;
- the 100% owned Lake Percy Lithium Nickel Project; and
- the 80% owned Deep Well Nickel Copper PGE Project.
While the Dynamic team await the assays for Dordie Far West, preparations and logistics for AC drilling at the Lake Percy Project are being finalised.
This will be a 100-hole program testing 5 nickel targets on the northern extension of the Lake Johnson greenstone belt.
Additionally, key geochemical data will be acquired in this program that will feed into geological modelling for targeting prospective lithium-caesium-tantalum pegmatites in the region.
This program is expected to start in the coming weeks.
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