Join our daily newsletter At The Bell to receive exclusive market insights
- Aston Minerals (ASO) shares are up on the back of a nickel sulphide mineralisation find at the ASO’s Boomerang Target in Ontario, Canada
- Drilling is underway within ASO’s Edleston Project, approximately 60 kilometres south of Timmins in Ontario
- Aston says drilling intersected “semi-massive, blebby and disseminated nickel sulphide mineralisation”
- The company has laid plans for a follow up electro magnetic survey to determine the extent of the mineralisation
- Aston Minerals shares are up 10.7 per cent to trade at 15.5 cents at 1:07 pm AEST
Aston Minerals (ASO) shares are trading in the green on the back of a nickel sulphide mineralisation find at the ASO’s Boomerang Target in Ontario, Canada.
The target sits within the company’s Edleston Project, which is located approximately 60 kilometres south of Timmins in Ontario.
The latest drilling has intersected “semi-massive, blebby and disseminated nickel sulphide mineralisation”.
Aston said the mineralisation comprised a 2.4 metre zone of 10 per cent pyrrhotite-pentlandite-chalcopyrite nickel copper sulphide, including a 15cm zone of semi massive pyrrhotitepentlandite-chalcopyrite from 52.5 metres downhole.
Aston Minerals’ Dale Ginn said the find was encouraging.
“To have such an early success in terms of hitting semi massive, blebby and disseminated styles of nickel sulphide mineralisation in the second hole provides very strong encouragement of a proof of concept of the Boomerang Target,” he said.
“The mineralisation intersected starts within 50m of surface and is therefore ideal for targeting using electromagnetic (EM) methods.”
The company plans to undertake a downhole electromagnetic survey to determine the extent of sulphide mineralisation and pick up any potential additional off-hole conductors.
Aston Minerals shares were up 10.7 per cent at 12:54 pm AEST to trade at 15.5 cents.
