High Grade Metals unearths ‘impressive grade’ cobalt-copper-nickel in Austria

Published at Mar 27, 2018, in Small Caps

High Grade Metals (ASX:HGM) today announced that results are in from a geochemical sampling programme at the Nockelberg prospect in the Leogang exploration area.

The Leogang Project is located in the Austrian district of Zell am See, Federal State of Salzburg. The Leogang exploration area covers a total area of approximately 12 square kilometres, and includes the historical Nockelberg and Leogang mine sites.

The results include grades of up to 0.68 per cent cobalt, 7.5 per cent copper and 3.5 per cent nickel in whole rock samples taken near historic adits, and anomalous copper, cobalt and nickel in soil samples.

Grades of such ‘waste’ material are extremely positive indicators of potential subsurface grade which was, at times, economically extracted from the Nockelberg area.

The sampling programme has now confirmed that:

- the waste dump areas outside major adits contain rocks of high grade materials as they may be representative of material previously extracted; and

- the lower target layer is supported by a geochemical anomaly (and could thus be mineralised).

This confirmation, in turn, supports the next phase of exploration at the Nockelberg prospect.

At the same time, it’s worth noting that this is an early stage play and investors should seek professional financial advice if considering this company for their portfolio.

The broad soil geochemical anomaly adds credence to the contention that the bottom layer, previously regarded as not mineralised, may be a suitable drilling target.

Sampling was focused on the old waste dumps from the historic rock extraction process. A waste dump is where material not deemed through visual assessment as ‘high grade enough’ to process is discarded. Where material was not taken for processing, it was discarded. Note that it is not a tailings dump, which is produced as a result of primary ore processing (consisting of leftovers).

The presence of high grade copper suggests that the material was discarded because the miners’ focus was not copper — it was either cobalt or nickel.

HGM CEO, Torey Marshall, said “As we move through the exploration program in Austria, we are following a systematic path. In this case, we are able to show that target layers modelled are supported along their length by geochemical (soil) anomalies giving multiple targets.”

“Further, samples from ‘waste’ still carry, what I regard, as an impressive grade. Having new geochemical evidence of the grade of mineralisation based on whole rock samples, and comprehensive geological modelling completed, the Company will create an Exploration Target assessment for this prospect.”

Where to invest $1,000 right now

When the experts at Next Investors have a stock pick, it may pay to listen.

The Next Investors have been investing in ASX small cap stocks for years, with their best small cap picks yielding returns of 1,200%, 1,120%, 900% and 678%.

They have just revealed their hand-picked, FY2021 stock portfolio of high conviction long-term investments.

Click the link below to see what they are currently investing in.


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 Finfeed.com is Australia’s leading small cap publication

Founded seven years ago, Finfeed.com 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.

Finfeed.com 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.

Finfeed.com 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!