NickelX Limited (ASX:NKL) has identified a number of new targets with the successful completion of MLEM surveys within the Biranup Project, located in the world class Albany Fraser Orogen (AFO) in Western Australia.
The surveys were completed ahead of schedule across four high priority targets on E39/1828. 17 lines of MLEM which were focussed on the FD1-FD4 AEM conductive anomalies, where the company is seeking magmatic nickel-copper deposits in the AFO.
Managing Director, Matt Gauci, said the MLEM surveys were designed to better define the four high priority targets identified from a SPECTREM AEM survey flown by previous explorers and reprocessed by Southern Geoscience Consultants for the company.
Three first order conductivity targets were followed up by MLEM surveys to test the conductivity anomalies and define targets for drill testing.
The MLEM conductive anomalies detected at FD1, FD2 and FD4 are all suggestive of basement sources with preliminary modelling on FD1 suggesting a conductor located down dip of previously identified EM conductors at Fire Dragon. Final review, modelling and analysis is continuing with results to be released in the coming weeks.
An EIS co-funded diamond drilling programme at the Fire Dragon nickel target is being organised with DDH1 for a 4 hole 1,212m diamond and diamond with RC pre-collar program. Approval for a Program of Works (POW) has been received for this and a wider 5,000m drill programme.
Following efficient and safe mobilisation to site so soon after the Company’s listing, the NickelX team have better defined both previously generated and newly identified high priority targets on E39/1828,” Mr Gauci said.
“The preliminary MLEM results have returned strong discrete conductive responses at the FD1, FD2 and FD4 AEM conductive anomalies with further interpretation ongoing to systematically guide our impending drill programme where a POW has been lodged and drillers appointed”.
The Biranup Project is comprised of six granted exploration licenses (EL’s) covering a total area of ~400 sq. km and is located at the north-eastern Albany Fraser Orogen (AFO), where previous work has identified 20+ EM conductors, including four high priority targets, that are considered highly prospective for magmatic nickel-copper mineralisation.
The high priority Fire Dragon nickel target has been the subject of an AEM survey, ground MLEM survey and very limited drilling by previous explorers, which intersected semi- massive to massive sulphides (including pentlandite and chalcopyrite), from a limited four-hole programme.
The AFO is still considered an emerging mineral belt as nickel-copper discoveries continue after only 10 years from the discovery of the Nova-Bollinger deposit. Total mineral endowment of the AFO is approximately 0.3Mt contained nickel-copper, whereas more mature belts, such as the Thompson Belt in Canada, have been explored for more than 40 years with total mineral endowment of 2.7Mt contained nickel. Discoveries continue to be made in the AFO including the Silver Knight deposit (Creasy Group), Mawson’s deposit (Legend Mining Limited) and the Orion target (IGO Limited).