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Accelerate Resources Ltd

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.

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Accelerate Resources Ltd (ASX:AX8) executive director Andrew Haythorpe catches up with Proactive Investors on the Mount Read Project in Tasmania, where a second phase drill program is underway.  "In all of the drilling that we've done so far we've found strong indications of...

on 15/11/18

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