Notably, drill results from the C1 anomaly have confirmed the discovery of high-cobalt tenor nickel-cobalt laterite mineralisation beneath shallow cover, with results including:
• 32 metres at 0.26% cobalt, 0.52% nickel, 5.9% aluminium and 96 ppm scandium, including 6 metres at 0.69% cobalt, 0.73% nickel, 9.5% aluminium and 93 ppm scandium; and
• 11 metres at 0.27% cobalt, 0.54% nickel, 8% aluminium and 248ppm scandium.
The Collerina Project is located about 40 kilometres south of Nyngan within the world-class Lachlan Fold Belt.
The company is currently progressing a pre-feasibility study on the Homeville nickel-cobalt-high purity alumina (HPA) deposit.
Collerina’s recent drilling was designed as a series of reconnaissance drill traverses to test a structural zone located about 10 kilometres north of the Homeville deposit.
The program consisted of 42 vertical aircore holes for a total of 1,668 metres drilled.
Mineralisation remains open in all directions
Drilling over the C1 anomaly identified an ultramafic zone, with deep, well-developed laterite profiles on the northern and southern ends of the drill traverse.
Assay results have confirmed high-tenor cobalt mineralisation within the laterite profile that remain open to the north, east and west.