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Accelerate Resources’ survey aims to define cobalt-nickel drilling targets

A ground-based Fixed Loop Electromagnetic (FLEM) survey is underway at the Mount Read project in Tasmania.
Pan with mineralised material from Mount Read
Examining panned pyrite-chalcopyrite sulphides from the Mount Read project

Accelerate Resources Ltd (ASX:AX8) is undertaking a ground-based Fixed Loop Electromagnetic (FLEM) survey over the Young Henry cobalt-nickel target at the Mount Read Cobalt Project in Tasmania.

The survey aims to further define EM conductors which could potentially indicate accumulations of massive sulphides.

Accelerate intends to determine the first-ever drill targets in the area.

READ: Accelerate Resources completes second drill hole targeting cobalt copper gold

In conjunction, geological field mapping, soil and rock chip sampling is being carried out in the area.

The target for exploration is for magmatic nickel-copper-cobalt sulphides associated with mafic-ultramafic rocks.

Previous exploration at the Young Henry and Henrietta prospects, including heli-borne VTEM surveys, identified a belt of mafic to ultramafic rocks.

Trend of EM anomalies

This is associated with a 1.4-kilometre long trend of airborne EM anomalies along the eastern mafic-ultramafic belt.

Airborne EM targets at the Mount Read project.

Historical reconnaissance exploration in the area identified altered ultramafic rocks with anomalous values for nickel, cobalt and platinum.

Focus on Young Henry

FLEM survey work will focus on Young Henry prospect on the western side of Henrietta.

A previous VTEM survey identified a 300-metre long EM conductor near the northern end of a belt of mafic-ultramafic rocks.

The FLEM survey will comprise a 300 by 300 metres loop with EM readings conducted on 75 metre spaced lines.


Very little historical exploration has been undertaken at the Henrietta cobalt-copper-gold project.

Prolific Mount Read Volcanics

The Mount Read project is on the Sorrell Peninsula in western Tasmania.

It encompasses a belt of Cambrian volcano-sedimentary rocks correlated with the Mount Read Volcanics (MRV).

The MRV host all western Tasmania’s significant base and precious metal mines and mineral occurrences, several of which have been significant producers of base metals for over 100 years.

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