Drilling afoot: Accelerate tests for nickel-cobalt potential

|

Published 30-AUG-2018 12:46 P.M.

|

2 minute read

Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.

In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.

The below articles were written under our previous business model. We have kept these articles online here for your reference.

Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.


Click Here to View Latest Articles

ASX junior, Accelerate Resources (ASX:AX8), has kicked off diamond drilling at the Young Henry nickel-cobalt prospect, which sits within AX8’s Tasmanian Mt Read Project.

AX8 is testing here for nickel-cobalt potential in a 300 metre long conductor.

Drilling is currently at a depth of 50 metres, with a planned depth of 200 metres.

The hole is designed to test a 300 metre long, south-south-west plunging electromagnetic (FLEM) conductor, which sits below gossanous soil samples anomalous in nickel, cobalt, copper and zinc, and has the potential to indicate an accumulation of sulphides.

The fixed loop electromagnetic (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. The survey comprised a 300 x 300 metre loop with EM readings conducted on 75 metre spaced lines.

The Young Henry prospect lies immediately west of the 1.4 kilometre long Henrietta VTEM anomaly, and 18 kilometres north-north-west of the Thomas Creek copper-cobalt-nickel prospect.

The Henrietta target, will be subject to field exploration, with surface samples having returned cobalt grades up to 0.14%.

On top of that, drilling results for the Thomas Creek copper-cobalt target are due imminently.

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

The broader Mount Read project is situated on the Sorrell Peninsula in western Tasmania. It encompasses a belt of Cambrian volcano-sedimentary rocks correlated with the Mount Read Volcanics (MRV). The MRV hosts all western Tasmania’s significant base and precious metal mines and mineral occurrences, several of which have been significant producers of base metals for over 100 years.

Drill rig on site for diamond hole YHDD001Young Henry and Henrietta prospect locations


General Information Only

S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (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 and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.

Conflicts of Interest Notice

S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.

Publication Notice and Disclaimer

The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.

Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.

This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.

 

Discover Small Cap
Biotech Stocks

Join thousands of other Investors following our stock commentary for Free

X