- Adavale Resources (ADD) begins diamond drilling ahead of schedule at the Kabanga Jirani Nickel Project in Tanzania
- Initial exploration at the project successfully identified 18 targets with follow-up surveys identifying six high-quality targets
- A further five have prospective features and will also be drilled following modelling of electromagnetic data
- Work will begin at Target 1, where exploration and surveying has identified multiple vectors that could potentially host underlying mineralisation
- Shares in Adavale are up a slight 1.25 per cent and are trading at 8.1 cents at 12:08 pm AEST
Adavale Resources (ADD) has begun diamond drilling ahead of schedule at the Kabanga Jirani Nickel Project in Tanzania.
The company holds seven granted licences that cover an area of nearly 1145 sq km and neighbours one of the world’s largest undeveloped nickel sulphide resources of 58 million tonnes at 2.62 per cent nickel.
The company’s initial exploration program successfully identified 18 targets with follow-up surveys identifying six high-quality targets.
Additionally, a further five targets have prospective features including high-quality geochemical and natural source audio-frequency magnetotelluric anomalies.
Once the electromagnetic data has been modelled, these targets will also be drilled.
Work will begin at Target 1, where exploration and survey work has identified multiple vectors that could potentially host underlying mineralisation.
Elevated nickel and copper anomalies have been identified at surface as well as magnetic lows that indicate an ultramafic intrusion.
The entire program will consist of roughly 8000 metres being drilled across eight targets.
“Having the rig returning for the first time is a significant milestone for any explorer. We now have a strong choice of targets that we’ve worked hard to refine and prioritise to ensure we get the most out of our rig as the time came,” CEO Allan Ritchie said.
“Target 1 ticked a lot of boxes from the outset so we are excited to see the forthcoming first cores.”
Shares in Adavale were up a slight 1.25 per cent and trading at 8.1 cents at 12:08 pm AEST.