Auroch Minerals Ltd (ASX:AOU) (FRA:T59) has received first assay results from a maiden reverse circulation (RC) drill program at the high-grade Nepean Nickel Project, which reveal an extension to the existing shallow high-grade nickel sulphide mineralisation.
The project, around 25 kilometres south of Coolgardie in Western Australia, is operated under the company’s 80:20 JV agreement with Goldfellas Pty Ltd.
As well as extending the mineralisation for at least 500 metres, assays from the first six drill-holes of the 3,500-metre reverse-circulation (RC) drill program have returned up to 5.57% nickel.
Best results include:
- 3 metres at 3.70% nickel and 0.33% copper from 91 metres including 2 metres at 5.09% nickel and 0.47% copper from 91 metres ;
- 1-metre at 5.57% nickel and 0.25% copper from 60 metres;
- 2 metres at 3.02% nickel and 0.30% copper from 55 metres; and
- 3 metres at 1.35% nickel and 0.10% copper from 40 metres within a broader zone of 18 metres at 0.76% nickel and 0.02% copper from 25 metres.
“Thrilled with first results”
Auroch managing director Aidan Platel said: “We are thrilled with the first results from our maiden RC drill program at the Nepean Nickel Project.
“The intersections have extended both Sill 2 and Sill 3 in places, the two main lenses of massive nickel sulphides in the historic Nepean mine.
“As such we now have this very shallow, very high-grade nickel sulphide mineralisation continuous for at least 500 metres of strike, which in itself presents a strong case for a potential shallow open-pit scenario that we may be able to fast-track to cash flow.
“We are also very excited to now be drilling the aeromagnetic targets along the 10 kilometres of a prospective strike at Nepean, all of which have very high potential to host significant nickel sulphide mineralisation, yet they have never been previously explored with modern techniques.“
The reverse circulation (RC) chip samples from four other shallow holes drilled in this area have been logged and submitted to the ALS Global laboratory in Perth for analyses, with assay results expected with the next 1-2 weeks.
Platel said: “We are expecting the next batch of assay results within the next fortnight and we look forward to releasing the next market update when they are received.”
New aeromagnetic targets
The drill-rig has now moved to test new regional aeromagnetic targets along the 10 kilometres of prospective strike to the north and south of the historic Nepean mine.
These drill holes have been designed to characterise the ultramafic units along strike and to define the important stratigraphic contact between the ultramafic hanging-wall and the basalt footwall.
All exploration drill-holes will be cased for follow-up down-hole electromagnetic (DHEM) surveys to test for any nearby conductive units that may represent massive nickel sulphide mineralisation.
The remaining program is expected to be completed in the next two weeks.