- Ark Mines (AHK) reports shallow nickel mineralisation in its latest assay results from its Gunnawarra nickel cobalt project in North Queensland
- The results support the company’s goal to expand the scope of previous drilling and convert it to 2012 JORC status
- Most intersections are shallow and the deposit is open in numerous directions
- The company says it will now focus on increasing the current resource base, assessing off-take agreements, and securing permits for mining
- Shares are trading flat today at 39 cents each at 11:36 am AEST
Ark Mines (AHK) has reported shallow nickel mineralisation in its latest assay results from its Gunnawarra nickel cobalt project in North Queensland.
The results come from the company’s 45-hole drill program, completed in area known as ‘the Pod’.
The drilling aimed to extend the deposit to the North West and South East, using modern drilling practices, with a larger air rig.
Most intersections were shallow and the deposit is open in numerous directions.
One of the best results was 42 metres at 0.76 per cent nickel equivalent from two metres, including 19 metres at one per cent nickel equivalent from six metres.
The results support the company’s goal to expand the scope of previous drilling and convert it to 2012 JORC status.
Further drilling is being planned for known extensions to the deposit as well as other targets across the project.
Executive Director Roger Jackson said the goal now is to increase the current resource base, assess off-take opportunities, and secure necessary permits for mining.
“These are very encouraging assay results that confirm Gunnawarra is enriched with robust nickel and cobalt mineralisation which we believe is present across the broader project site,” he said.
“The commercial grade intersections occurred at shallow depths and in many cases begin at-surface.
“We are also encouraged by the direction of the mineralisation structure, which runs in a north-west / south-east line through the middle of the drilling area and supports the establishment of a competent mine structure.”
Shares were trading flat today at 39 cents each at 11:36 am AEST.