Join our daily newsletter At The Bell to receive exclusive market insights
- Estrella Resources (ESR) has found new nickel and gold geochemical targets at its Carr Boyd Nickel Project in Western Australia
- The company has recently completed an extensive geochemical auger drilling program at Carr Boyd
- These target zones include previously identified smaller prospects
- However, the soil sampling has extended the target zones over a much larger area of approximately 2.5 kilometres by 1.2 kilometres
- CEO Chris Daws is looking forward to what Estrella’s ongoing work will reveal
- Estrella Resources is up 12.5 per cent on the market today, trading for 0.9¢ apiece
Estrella Resources (ESR) has found new nickel and gold geochemical targets at its Carr Boyd Nickel Project (CBNP).
The company has recently completed an extensive geochemical auger drilling program at CBNP.
Estrella found two high-priority targets identified at the Central and POH Zones.
These target zones include previously identified smaller prospects. However, the soil sampling has extended the target zones over a much larger area of approximately 2.5 kilometres by 1.2 kilometres.
Sampling covered the T5 Prospect, where reverse circulation drilling recently discovered nickel, copper and cobalt mineralisation at depth.
Results from the T5 include 8 meters at 1.11 per cent nickel and 0.36 per cent of copper, which includes 4 meters at 1.60 per cent of nickel and 0.31 per cent of copper.
CBNP is located 75 kilometres north of Kalgoorlie and is comprised of the Carr Boyd Layered Complex.
Within that complex is the historic Carr Boyd Rocks nickel mine which produced 202,110 tonnes of ore at an average grade of 1.43 per cent nickel and 0.46 per cent copper, between 1970- 1977.
“Our mineral exploration work at the Carr Boyd Nickel project continues to unlock its potential,” CEO Chris Daws said.
“Carr Boyd is one of only a handful of layered mafic intrusions with economic concentrations of nickel and copper mineralisation located in Australia and thus is highly perspective, I look forward to what our ongoing exploration work will reveal,” he added.
Estrella Resources is up 12.5 per cent on the market today, trading for 0.9¢ apiece at 12:54 pm AEST.
