Auroch identifies thick high-grade nickel sulphide at Nepean
Auroch Minerals Limited (ASX:AOU) has released extremely impressive assay results from its maiden reverse circulation (RC) drill program at the high grade Nepean Nickel Project 25 kilometres south of Coolgardie, Western Australia.
One 8 metre intersection grading 4.3% nickel included 2 metres at nearly 7% nickel.
The project is located in prime nickel territory and is operated under the Company’s 80:20 JV agreement with Goldfellas Pty Ltd.
Nickel sulphide intersections at shallow depths were confirmed in all holes with high-grade hits including 8 metres at 4.3% nickel and 0.37% copper from 35 metres, 8 metres at 3.2% nickel and 0.13% copper from 63 metres and 5 metres at 3% nickel and 0.8% copper within a broader mineralised zone of 16 metres at 1.4% nickel and 0.3% copper from 49 metres.
The 15 completed near-mine drill-holes have successfully confirmed that high-grade mineralisation occurs as two sub-parallel nickel sulphide lenses at very shallow depths which extend for over 500 metres of strike within the area of the historic Nepean nickel mine as shown below.
Commenting on the outstanding results, managing director Aidan Platel said, “We are thrilled with this latest batch of results from the shallow near-mine drilling at Nepean.
These kinds of grades and thicknesses would be impressive drill results at any depth, but to get such thick high-grade nickel sulphides at such shallow depths is something uniquely special.
"As mentioned previously, the high-grade results from the first 10 drill-holes initially developed our understanding and geological model of the shallow high-grade nickel sulphide mineralisation that now extends for over 500 metres of strike at Nepean.
"However, after those first results our team recognised the need to drill several more holes into critical areas of this mineralisation to confirm our model.
But wait, there’s more
The company’s maiden RC drill programme at the Nepean Nickel Project comprised 32 holes for 3,397 metres.
The results for the remaining 17 drill-holes, which were drilled to test the highest priority regional aeromagnetic targets along the 10 kilometres of prospective strike are still outstanding and are expected to be received in the coming weeks.
Discussing upcoming work in the context of these outstanding drilling results, Platel said, "Recent results have exceeded all expectations, and lay a solid foundation to progress forward to assessing a potential open-pit scenario at Nepean that could generate significant cash flow for the company.
‘’The results from the remaining 17 holes of our maiden drill programme at Nepean are still pending and are expected over the coming weeks, along with results from our regional AC (aircore) programme.
‘’We also look forward to commencing a high-powered ground MLEM survey over priority target areas of the 10km of strike that we have at Nepean.
‘’We believe there is huge potential along strike for significant high-grade nickel sulphide mineralisation, and the pending results will provide important data inputs for our geological model which will be used to generate high potential targets for the next phase of drilling.”
Consequently, there are multiple share price catalysts on the horizon at Nepean, as is also the case at some of its other projects, particularly the Leinster Nickel Project where diamond drilling is testing the Horn Prospect.
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