Accelerate unearths promising nickel-cobalt target

Published at Aug 16, 2018, in Small Caps

Accelerate Resources (ASX:AX8) has completed a fixed loop electromagnetic (FLEM) survey, as well as soil sampling and geological mapping, at the Young Henry prospect at its Mount Read Cobalt Project in Tasmania.

Confirmation of a ground EM conductor associated with nickel-cobalt soil anomalism and mapped gossans is highly encouraging, and confirms the Young Henry prospect as a priority exploration target.

Location of the Young Henry and Henrietta prospects

The FLEM survey aimed to further define a previously identified 300 metre long airborne VTEM conductor near the northern end of a belt of fault bounded mafic-ultramafic rocks. It comprised a 300m x 300m loop with EM readings conducted on 75m spaced lines.

Of course, as with all minerals exploration, success is not guaranteed — consider your own personal circumstances before investing, and seek professional financial advice.

A south-southwest plunging moderately conductive bedrock conductor was identified, which has the potential to indicate an accumulation of sulphides. Soil sampling on the Young Henry Grid confirmed anomalous nickel, cobalt, copper and zinc soils and a gossan up plunge from a modelled FLEM conductor.

A total of 50 soil samples were collected from auger holes with depth <1 metre, along four 75 metre spaced grid lines. Lab results show peak concentrations of 2030ppm nickel,154ppm cobalt, 172ppm copper, 45% iron, 1% chromium and 1200ppm zinc from the soil sampling. Gridded sample analysis shows coherent patterns for both mineralisation and lithology.

Gossanous soil samples were favorably located up dip and up-plunge from the modelled FLEM conductor at three locations. The strongest gossan was located at the up-plunge projection of the conductive body in the northeast of the Young Henry grid.

Young Henry surface gossanous samples

Peak analysis from gossan samples YH0015, YH0035 and YH0046 returned up to 654ppm nickel, 128ppm cobalt, 217ppm zinc and 45% iron. Sulphur in gossanous samples YH0015 and YH0046 (0.1% sulphur, 34% iron and 0.13% sulphur, 45% iron, respectively) suggests they are near insitu hydrothermal related, with sulphur more likely to be oxidised and leached from a transported laterite.

A fault breccia sample (YH0033) at the eastern contact of the ultramafic, returned a number of anomalous results including 0.12% zinc, 0.2% nickel, 123.5ppm copper, 0.8% chromium and 96ppm cobalt.

Drilling is scheduled to test the FLEM conductor and the nickel, cobalt and zinc zone in late August. Thomas Creek TCD002 and TCD003 drilling results are also due back in the coming weeks.

View Our Investment Portfolios

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Australian ASX Small Cap stocks | Why is Australia’s leading small cap publication

Founded seven years ago, is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise. provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more. is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!