- Adavale Resources (ADD) completes the first hole of its maiden drilling program at the Kabanga Jirani Nickel Project in Tanzania
- This program includes 18 targets that were identified during initial exploration earlier this year
- Drilling has intercepted multiple veins within a 195-metre zone which includes up to 0.86 per cent nickel, 4.84 per cent copper and 0.44 per cent cobalt
- Adavale is now drilling the second hole where it’s targeting a magnetic low coinciding with anomalous nickel and copper soil sampling values
- Company shares are down 18.2 per cent to trade at 6.3 cents at 2:40 pm AEST
Adavale Resources (ADD) has completed the first hole of its maiden drilling program at the Kabanga Jirani Nickel Project in Tanzania.
This first hole, KN01-01-01, was drilled to a depth of 455.24 metres and has been logged and analysed.
KN01-01-01 was the first target drilled out of 18 that were outlined and prioritised during initial exploration work at the Kabanga Jirani Nickel Project.
The company prioritised this hole first as it previously identified multiple vectors that could potentially host underlying mineralisation. While samples are yet to be analysed and assayed, drilling successfully intercepted multiple veins between 260 and 455 metres.
Nickel values ranged between 0.03 and 0.86 per cent, copper values peaked at 4.84 per cent and cobalt values included 0.44 per cent.
CEO Allan Ritchie is pleased with the initial results.
“The thickness of the intersected sulphide rich intervals, the rock units and pXRF mineralisation readings are exciting indicators that we are on track and may be close to a source of massive sulphides,” he said.
Adavale plans to come back to target one for further drilling to explore for potential massive sulphides after downhole electromagnetic surveying is done.
The company has begun drilling the second hole at target 11 where it’s targeting a magnetic low coinciding with anomalous nickel and copper soil sampling values.
Company shares were down 18.2 per cent to trade at 6.3 cents at 2:40 pm AEST.