- Following the recent $7m IPO and ASX listing, NickelX Limited (ASX: NKL) has commenced exploration activities at the Biranup Project, located in the world-class Albany Fraser Orogen.
- Geophysical data re-processing has identified new good quality conductivity anomaly targets at the Fire Dragon nickel target, which will be immediately followed up with close spaced Moving Loop ElectroMagnetic (MLEM) surveys.
- EIS co-funded drilling grant of $150,000 received from the WA Government in support of a $310,000 diamond drilling program at the Fire Dragon nickel target.
- Programme Of Work (POW) application lodged.
- CSA Global Pty Ltd (CSA) and Tony Donaghy has been contracted for Exploration Management.
- Southern Geoscience Pty Ltd (SGC) has been contracted for Geophysics Management.
- Wireline Services Group Pty Ltd (WSG) has been contracted to undertake MLEM surveys, with crews being mobilised for a June program.
NickelX Limited (“NickelX” or “The Company”) is pleased to report that following the successful $7 million IPO and ASX listing, the Company has immediately commenced exploration activities at the 100% owned Biranup Project, located in the world class Albany Fraser Orogen, WA.
The Biranup Project covers ~400km2 and is located at the northern end of the Albany Fraser Orogen, where previous work has identified 20+ EM conductors, including 4 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 AEM, MLEM and drilling by previous explorers, which intersected semi-massive to massive sulphides (including pentlandite and chalcopyrite), from a limited 4-hole program (see ASX announcements by Ventnor Resources Ltd – now VRX Silica Ltd ASX:VRX – dated 13th October 2016, 8th November 2016 and 17th January 2017).
Geophysical data re-processing has identified new good quality conductivity anomaly targets including a further 4 high priority targets in the Fire Dragon area, which have been prioritised for immediate follow up close spaced MLEM surveys. The conductive targets FD1 to FD4 satisfy the company’s key criteria.
EIS co-funded drilling grant of $150,000 has been received from the WA Government in support of a $310,000 diamond drilling program at the Fire Dragon nickel target, with agreements signed with the DMIRS for a 4 hole 1,212m diamond and diamond with RC pre-collar program. A Program of Works (POW) has been lodged for this and a wider 5,000m drill program.
The Company has also contracted and/or appointed high quality expertise in the exploration for magmatic nickel-copper deposits in the Albany Fraser Orogen, including CSA Global, Southern Geoscience, Wireline Services Group, to undertake the immediate exploration programs.
NickelX MD Matt Gauci Commented:
“We’re very excited to kick off exploration and hit the ground running immediately after our Australian Securities Exchange (ASX) listing, with the successful identification of new EM conductors, the successful
application for an EIS grant for our diamond drilling program, and the contracting of very high-quality expertise in the discovery of magmatic nickel-copper deposits in the Albany Fraser Orogen.
“EM crews are being mobilised and drilling crews are being organised for what we believe will be a very exciting program, seeking Nova-type magmatic nickel-copper deposits across both previously identified and new EM conductors, while systematically generating new targets within Biranup”.
Appointment of high-quality expertise in the Nickel exploration sector
Exploration Management – CSA Global Pty Ltd
The Company is pleased to report the appointment of CSA Global, an ERM Group company, and Mr Tony Donaghy to the role of Exploration Management for NickelX Limited. CSA Global is a mining industry consulting company that provides trusted technical and expert services, training and independent corporate advice to public and private mining companies, financial and legal groups. CSA Global has been providing services to its clients across all mineral commodities and regions globally for over 35 years. Their team of geologists, engineers, mining consultants and data specialists are some of the most experienced and sought-after professionals across the mining industry. In particular, the company has appointed Mr Tony Donaghy to the role of Exploration Management Consultant. Tony is an internationally recognized expert in the global search for nickel, copper, cobalt and platinum group elements (PGEs) and a skilled exploration geologist who is familiar with most geological environments and a broad variety of mineral commodities
Geophysics Management – Southern Geoscience Pty Ltd
The Company is pleased to report the appointment of Southern Geoscience Consultants (SGC) to the role of Geophysics Management. SGC is a group of highly experienced geophysicists based in Perth, Western Australia, who provide independent, specialised consulting services to the mineral and petroleum exploration industries globally. Working with all types of geoscientific data, SGC’s services include the planning, management, quality control, processing, imaging and interpretation of geophysical surveys, management of exploration programs, targeting and design of drill holes, GIS and data compilations, project evaluations, sales of multi-client data and value-added products, instrument rentals, rock property measurements and software development.
Ground EM Surveys – Wireline Services Pty Ltd
The Company is pleased to report the appointment of Wireline Services Group to the contracted ground MLEM surveys at Biranup. Wireline Services Group has been servicing exploration, mining, hydrology and geotechnical industries in Australia since 1995 and expanded operations to Canada in 2012. Using cutting edge technology and highly professional systems, WSG provide powerful orebody knowledge to some of the world’s leading mining companies. A world class team for subsurface data acquisition and orebody knowledge that makes a difference.
Authorised for ASX release by Matt Gauci, Managing Director of the Company.
DATE: MAY 11, 2021