Sign up Australia
Proactive Investors - Run By Investors For Investors

Estrella Resources gets green light for further drilling at Scotia East cobalt-nickel project

The company is hoping for high-grade cobalt results from new drilling at the WA project.
cobalt square highlighted on periodic table
First-pass drilling delivered up to 0.42% cobalt

Estrella Resources Ltd (ASX:ESR) has received Western Australian government approval for a works program to target higher grade cobalt mineralisation at its Scotia East cobalt prospect north of Kalgoorlie in Western Australia.

The Department of Mines, Industry Regulation and Safety approval will mean the company can press forward with testing up to 1 kilometre of a potential strike length that features nickel-cobalt mineralisation.

Perth-based Estrella plans to start to drilling at the project 80 kilometres from Kalgoorlie-Boulder as soon as possible.

First-pass sets vision

Estrella has previously undertaken drilling at the site, which is 40 kilometres east of Ardea Resources Ltd’s (ASX:ARL) major nickel-cobalt project Goongarrie.

Results from first-pass drilling at Scotia East included: 7 metres at 0.21% cobalt from 7 metres, including 1 metre at 0.42% from 8 metres; and 11 metres at 0.16% from 3 metres, including 2 metres at 0.33% from 4 metres.

Estrella flagged the current strength of cobalt prices and said it had identified extensive areas it wanted to follow-up.

Among the company’s intended targets are the areas north and south of the east-west cross-section Estrella drilled previously with three 30-metre-deep vertical holes.

These had produced results such as 7 metres at 0.21% cobalt and 0.68% nickel from 7 metres, including 1 metre at 0.42% cobalt and 0.75% nickel from 8 metres.

Estrella reported that these complemented encouraging historical drilling results.

The cobalt price was at US$31.75 a pound two days ago while the nickel price was US$6.33 a pound.

View full ESR profile View Profile

Estrella Resources Ltd Timeline

February 24 2017

Related Articles

map of project area
March 26 2018
The prospect of an IOCG deposit, similar to Olympic Dam, has ignited interest in the stock.
August 15 2018
Thunderstruck has an attractive and diverse portfolio of assets in Fiji
Signpost saying Nevada
March 28 2018
The near-term transition of the Eureka Gold Project to a cash-generating asset will be a major milestone for Tyranna.

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use