- Ark Mines (AHK) set to begin reverse circulation drilling at its Gunnawarra nickel-cobalt project in North Queensland
- The 2,000 metre program will test laterite nickel cobalt deposits, and underlying ultramafic basement rocks identified during a drone magnetic survey
- Given its proximity to Australian Mines’ (AUZ) Bell Creek resource, part of the Sconi project, AHK believes Gunnawarra has potential to be a significant battery metals project
- Drilling is anticipated to take around 10 days to complete, with assays expected by late May
- Company shares were trading 3.6 per cent lower at 27 cents
Ark Mines (AHK) is set to kick off reverse circulation drilling at its Gunnawarra nickel-cobalt project in North Queensland.
A drilling rig is currently on its way to site to begin the program which is set to comprise 2,000 metres of shallow drilling to test known mineralised structures.
Earlier this month, the company announced it had completed a drone magnetic survey which confirmed the presence of a strong nickel and cobalt laterite mineralised system at the project, and it subsequently mapped out a number of high-priority drill targets.
The first-pass program will examine the laterite nickel cobalt deposits with associated scandium, as well as test the underlying ultramafic basement rocks identified during the survey.
Given Gunnawarra borders Australian Mines’ (ASX: AUZ), Bell Creek Mineral
resource, which is a part of Australia’s most advanced cobalt-nickel-scandium project, Sconi, Ark believes it has the potential to be a significant battery metals project.
Drilling is set to kick off tomorrow, and is anticipated to take around 10 days to complete with assays expected by late May.
This work marks the first stage in the company’s planned exploration ramp up which also includes finalising drill targets at its Mt Jesse copper-iron project, with drilling to commence subject to rig availability.
Company shares were trading 3.6 per cent lower at 27 cents at 11:51am AEDT.