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Adavale Resources (ASX:ADD) hits fresh nickel sulphides at Luhuma Central, Tanzania

ASX News, Materials
ASX:ADD      MCAP $3.028M
25 July 2023 14:20 (AEST)

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Adavale Resources (ADD) has struck luck in its third diamond drillhole at its Luhuma Central prospect in Tanzania.

The company reported a 7.55-metre-wide intersection of massive nickel sulphides from 261 metres in depth.

Adavale is planning to run the drillhole that turned over today’s result 60 metres deeper to test the system at depth.

This will be done in tandem as contractors run another survey over the acreage, with the team running that program now on-site and commencing the program.

Assays to determine the true scope and style of nickel discovered remain to be logged.

Former discoveries were made only metres away from where the maiden results were logged which also found a less than 10 metre section at a similar depth, suggesting there’s a mineral system to be found between 250 metres and 300 metres.

After sinking three drill holes on site, the company will now move ahead to further step-out drill anomalies discovered in existing and upcoming geomagnetic surveys.

Adavale shares last traded at 2.5 cents.

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