NickelX Ltd (ASX:NKL) is poised to kick off a 1,700-metre reverse circulation (RC) drill program targeting nickel-copper-platinum group elements (PGE) mineralisation at the Dalwallinu Project in Western Australia.
A recently completed infill auger drilling soil sampling program defined multiple high-priority geochemical anomalies over a combined strike length of about 12 kilometres at the project in the West Yilgarn Nickel Province of WA, where the company is seeking Julimar-style mineralisation.
In addition, NickelX has also executed a finder’s fee agreement with Eyre Metals Limited to provide all data and intellectual property concerning the option agreement for advanced nickel and lithum projects in Central Europe to them in return for 1 million shares in Eyre Metals.
“Significant prospectivity”
NickelX managing director Matt Gauci said: “The NickelX team is very excited to commence drilling shortly at the Dalwallinu project which has significant prospectivity for nickel-copper-PGE mineralisation and numerous high-priority targets, prospective for Julimar-type nickel-copper-PGE mineralisation.
“The company is also pleased to have executed a finder’s fee agreement with Eyre Metals in respect of the projects related to the Euro Option, which lapsed recently.”
Euro option agreement
NickelX’s option agreement for advanced nickel and lithium projects in Central Europe (Euro option) has lapsed unexercised.
Therefore, the company has executed a finders’ fee agreement with Eyre Metals Limited to provide the data and intellectual property in respect of the Euro Option in consideration for 1 million fully paid ordinary shares in Eyre Metals, subject to Eyre Metals successfully listing on the ASX.
Eyre Metals is an Australian, public unlisted entity that is proposing to list on the ASX in 2024.
It intends to pursue the nickel and lithium projects in Central Europe, the subject of the Euro Option, via its own agreement with the project vendors.
New company secretary
NickelX has appointed Tom O’Rourke as joint company secretary, effective immediately.
O’Rourke will replace Sujana Karthik who has resigned from her position with the company.
He is a corporate advisor with Automic Group and has significant experience as a company secretary with ASX-listed entities.
Steven Wood remains as the other joint company secretary.
The board thanks Sujana Karthik for her services to the company during her tenure and wishes her all the best with her future endeavours.