Proactive Investors - Run By Investors For Investors

Accelerate Resources drills 38-metre nickel intersection

Mapping and sampling for nickel and cobalt is now planned at the Henrietta anomaly.
sign saying Tasmania
Mount Read exploration is targeting EV battery metals including cobalt, nickel, and copper

Accelerate Resources Ltd (ASX:AX8) has drilled two significant intersections of nickel from the Young Henry nickel prospect within the Mount Read Project in Tasmania.

38.3 metres at 0.23% nickel and 17.7 metres at 0.19% nickel both came from the diamond hole YHDD001, which was testing a 300-metre long electromagnetic conductor.

Drilling intersected two zones of elevated nickel within ultramafics.

The two zones with nickel sulphide potential were identified at the base of both serpentinised ultramafic’s intersected.

These zones bear the strongest sulphide mineralisation within ultramafic and also contained cobalt.

READ: Accelerate Resources begins second stage exploration after discovering large copper-cobalt system

Accelerate’s managing director Yaxi Zhan said: “Stage two drilling at Thomas Creek is already underway with a fourth drill hole and we are planning for further exploration program in line with our strategy to best position Accelerate to attract large partners to further develop the Mount Read project.”

Exploration towards generating drill targets

The identified potential for nickel-copper-cobalt sulphide deposits in the area is encouraging.

An untested 1.4-kilometre strike length of stronger EM anomalies coincides with ultramafic rock less than 1 kilometre east at the Henrietta Prospect.

Assessment of this key target when field operations recommence will initially include mapping, stream sediment sampling, gridding, rock chip and soil sampling.

Ground EM surveys will then follow to define drill targets.

View full AX8 profile View Profile

Accelerate Resources Ltd Timeline

Related Articles

map of projects and drill rig picture
January 24 2019
The company is focused on the Redmoor Tin-Tungsten Project and Otago Gold Project.
March 29 2019
The cash flow provides ballast against dilution, allowing the company carefully to consider each new opportunity on its merits
Cerro Dorado project
May 01 2019
Fidelity Minerals is a Peru-focused junior resources company and an early mover that is well-positioned to become a key player in the region

© Proactive Investors 2019

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