leadf
logo-loader
viewAuroch Minerals Ltd

Auroch Minerals leveraged to nickel super-cycle of growing export volumes and recovering prices

Following the acquisition of the Saints and Leinster projects in late August 2019, the company narrowed its focus to nickel exploration in the Norseman-Wiluna Greenstone Belt - which is home to numerous tier-1 nickel projects.

Auroch Minerals Ltd - Auroch Minerals expects to gain exposure to the nickel super cycle following growing export volumes and recovering prices
Auroch plans to aggressively explore its channel targets across both the Saints and Leinster Projects in 2020-2021

Auroch Minerals Ltd (ASX:AOU) is leveraged to the expected nickel super-cycle with Australia’s nickel export earnings forecast to strengthen on the back of growing export volumes and recovering prices.

In its latest annual report to shareholders, the company states the sector's value is expected to reach $6.8 billion in 2021-2022, up from an estimated $4.3 billion in 2019-2020.

Auroch has a clear strategy to explore its channel targets across both the Saints and Leinster projects while growing its nickel-bearing landholding across Western Australia.

Acquisition of Saints and Leinster in 2019 was perfectly timed, as nickel enjoyed a ‘remarkable’ resurgence, buoyed by a combination of supply pressures, local high-profile acquisitions and discoveries, tier-1 production restarts and global stainless-steel and lithium-ion battery demand.

The company plans to explore and drill as many of its developing pipeline of high-quality nickel targets as possible to materially increase the existing high-grade massive sulphide resource of 1.05 million tonnes at 2.0% nickel for 21,400 tonnes of contained nickel.

New strategy reaps results

Following having boosted its geological team with the appointment of geologist Robin Cox, non-executive chairman Edward Mason and consultant Peter Muccilli, the company’s new strategy bore immediate results with an updated geological model for the Saints project and ‘significant’ aircore (AC) drilling programs generating a stream of new basal channel targets.

During the period between July 2019-July 2020 Auroch completed three drilling programs across the Saints project, comprising 1,960 metres (60-holes) of AC drilling, 594 metres (4-holes) of reverse circulation drilling and 2,991 metres (11-holes) of diamond drilling, as well as numerous down-hole electromagnetic (DHEM) surveys on completed drill holes.

The drilling demonstrated that Auroch had high-grade nickel on its tenements, with results from drilling including 1.77 metres at 6.72% nickel from 227.31 metres, including 0.50 metres at 9.98% nickel.

Encouraged by these early results, the company has launched further aggressive and targeted drilling campaigns which are being completed.

Quick facts: Auroch Minerals Ltd

Price: 0.068 AUD

ASX:AOU
Market: ASX
Market Cap: $12.82 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Auroch Minerals Ltd named herein, including the promotion by the Company of Auroch Minerals Ltd in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Jindalee Resources' Lindsay Dudfield talks plans to unlock value at its...

Jindalee Resources Ltd's (ASX:JRL) Lindsay Dudfield discusses with Proactive London's Andrew Scott the plans to advance its McDermitt US lithium project. Back in June they received encouraging metallurgical test-work results from the project which confirmed an increase in lithium head grade...

on 7/8/20

2 min read