📉 Nikkei is down nearly 5% -> here are 43 recession-proof Japanese stocks from our screenerUnlock Now

NickelSearch’s DHEM survey extends Sexton nickel mineralisation beyond model

Published 07/08/2023, 10:50 am
Updated 07/08/2023, 11:30 am
NickelSearch’s DHEM survey extends Sexton nickel mineralisation beyond model

NickelSearch Ltd (ASX:NIS) is encouraged by the results of a downhole electromagnetic (DHEM) survey at Sexton Prospect within its Carlingup Nickel Sulphide Project near Ravensthorpe in Western Australia, corroborating the visual sulphides intersected in two recently completed diamond drill holes.

The recent diamond drilling program intersected the massive sulphides in the upper mineralised horizon (UMH) and lower mineralised horizon (LMH), with the latter found at shallower depths than anticipated in one of the drill holes.

The DHEM results from diamond holes 23NRD028 and 23NDD030 have shown that the mineralisation extends to the survey limits in a corridor about 80 metres wide.

Other findings

The DHEM survey of a total of four holes has led to the interpretation of three conductive horizons dipping shallowly to the southeast.

Notably, there are two off-hole conductors - one each below drill holes 23NRC011 and 23NDD030 - that remain untested or have not been fully explored.

The DHEM plate models, associated with the massive sulphide intersections, plunge shallowly to the east-southeast.

Sexton drilling ongoing

Meanwhile, drilling at Sexton has so far revealed multiple horizons of nickeliferous sulphide, which appear to plunge shallowly to the southeast.

The extent of mineralisation along strike has yet to be defined and remains open.

The nickeliferous sulphides have been intersected at the upper and lower contacts of a banded iron formation unit, within the ultramafic.

Additionally, there are sulphides internal to the ultramafic.

Getting confident

“The alignment of the conductive plates at Sexton with known mineralisation is encouraging, with potential for further positive results beyond the limit of testing,” NickelSearch managing director Nicole Duncan said.

“It is particularly pleasing to see the conductive plates continuing as far as we can assess with the DHEM survey.

“We intersected visual sulphides, including massive sulphide mineralisation in our June 2023 diamond drilling at Sexton and overlaying this information from the DHEM surveys gives us confidence in the prospectivity of Sexton.

“The visual nickel sulphide mineralisation intersected in the diamond drilling is sitting in a structure located at relatively shallow depths starting quite close to surface at about 40 metres and continuing to about 145 metres depth.

"We look forward to assay results in the coming weeks.”

Read more on Proactive Investors AU

Disclaimer

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.