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- NickelX (NKL) will soon begin a 1500-metre diamond drilling program at its Cosmos South nickel project in Western Australia
- The company will target the CS1 bedrock conductor, which it says is consistent with buried channelised komatiite volcanic rocks prospective for nickel sulphide mineralisation
- NickelX has the relevant approvals in place for the drilling to commence before the end of the year
- Company shares are up 10.34 per cent to 16 cents per share at 10:41 am AEST
NickelX (NKL) is set to begin a 1500-metre diamond drilling program at its Cosmos South nickel project in Western Australia.
The Cosmos South project lies in the Wiluna Greenstone Belt, which is known to host world-class nickel deposits.
This maiden drilling effort by NickelX is being partially funded by the WA Government Exploration Incentive Scheme. It will include between four and six holes to test electromagnetic conductors at the CS1 bedrock conductor target.
CS1 is interpreted to be a shallow target that extends for 565 metres of strike and 850 metres at depth. It’s estimated to have a modelled conductance of 11,300 siemens.
Furthermore, NickelX believes the CS1 target’s geophysical signature is consistent with buried channelised komatiite volcanic rocks prospective for nickel sulphide mineralisation.
NickelX Managing Director Matt Gauci said the maiden drilling program was “much anticipated”.
“We are initially targeting the CS1 target, the geophysical signature of which is consistent with buried channelised komatiite volcanic rocks prospective for nickel sulphide mineralisation,” Mr Gauci said.
“The planned drill program is supported by a WA Government EIS Grant, and the company is thankful to the WA Government and Traditional Owners for the efficient and cordial approvals process.”
NickelX has the relevant approvals in place for the drilling to commence before the end of the year.
Company shares were up 10.34 per cent to 16 cents per share at 10:41 am AEST.
