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InterMet Resources begins exploration at Calypso Nickel Project

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InterMet Resources (ASX: ITT) has begun a ground magnetic survey over the Zeus and Argos geophysical anomalies at the Calypso nickel project, which is situated in a prolific nickel sulphide province in Western Australia.

The survey began last week after InterMet received heritage clearance and re-established access, and is being conducted in preparation for the design of the upcoming drill program.

InterMet recently secured an exclusive six month option from Rossiter Minerals to acquire an 80% interest in the Calypso Project.

The Calypso Project is an early stage nickel exploration project located within the southern extent of the highly endowed Agnew-Wiluna Nickel Belt, which plays host to several world class deposits, along with a number of smaller nickel resources. 

These include the 335 million tonne at 0.516% nickel Mount Keith, Perseverance, the 189 million tonne at 0.69% nickel Honeymoon Well, and the 60 million tonne at 0.813% nickel Cosmos Deeps.

InterMet’s immediate due diligence program will focus on confirming the presence of disseminated sulphides reported in ultramafic rocks by BHP Minerals during their purely gold-focused exploration in the mid-1980s.

Only one of the drill holes was assayed for nickel and copper, reportedly returning 16 metres at 0.2% nickel and 61 parts per million copper from 42 metres, including a high value of 2 metres at 0.43% nickel and 85 parts per million copper.

The sulphides were described as having been intersected in consecutive holes on a single line of shallow aircore drilling over the Zeus prospect.

The Zeus prospect is one of two discrete, intense aeromagnetic anomalies of about 1 kilometre in length within the Calypso Project.

Zeus and the other aeromagnetic anomaly, Argos, will be the focus of InterMet's due diligence during the term of the option.

InterMet plans to twin the historic drill holes to confirm the presence of nickel mineralisation and review the existing relationship between the anomalies and the previous sampling results to establish the potential of these prospects.

The ground magnetic program aims to better define and detail the structure, geology and potential mineralisation for drillhole placement.

Applications for drilling permits are in progress and quotes are being obtained from drilling companies with drilling slated to begin in the June quarter.


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