- Auroch Minerals (AOU) has officially begun an eight-hole drilling program at the Nepean Nickel Project in Western Australia
- The project is held in a joint venture with Goldfellas which owns 20 per cent while Auroch owns a majority 80 per cent interest
- The reverse circulation drilling program will focus on untested targets to the north and south of the Nepean nickel sulphide mine
- These targets extend for over 10 kilometres and each one has the potential to host significant massive nickel sulphide mineralisation
- Drilling will also test shallow mineralisation south of the mine where historical grades of 9.93 and 11.78 per cent nickel has been reported
- The program is expected to wrap up within three to four weeks and will be followed by a downhole electromagnetic survey
- Company shares are up 2.17 per cent and are trading at 23.5 cents
Auroch Minerals (AOU) has officially begun a 3500-metre drilling program at the Nepean Nickel Project in Western Australia.
The project is held in a joint venture with Goldfellas through which Auroch owns the majority 80 per cent interest and Goldfellas owns the remaining 20 per cent.
The reverse circulation (RC) drilling program is expected to take three to four weeks and will focus on previously untested targets to the north and south of the Nepean nickel sulphide mine.
This mine was the second largest producing nickel mine in Australia — producing over 1.1 million tonnes of ore between 1970 and 1987 and 32,202 tonnes of nickel metal.
The prospective targets extend for over 10 kilometres and each one has the potential to host significant massive nickel sulphide mineralisation.
Additionally, the eight-hole program will test shallow near-mine mineralisation located about 200 metres south of the mine.
Historical results include three metres at 11.78 per cent nickel from 37 metres, three metres at 9.93 per cent nickel from 49 metres, four metres at 6.63 per cent nickel from 46 metres and six metres at 2.82 per cent nickel from 53 metres.
“We are pleased to have drilling underway at our recently-acquired high-grade Nepean Nickel Project, and are very excited by the huge potential to build on the existing nickel sulphide mineralisation as well as uncover further significant high-grade nickel sulphides,” Managing Director Aidan Platel said.
Auroch plans to conduct downhole electromagnetic (DHEM) surveys on the completed holes to identify potential massive sulphide bodies.
As the nickel price has continued to rise over US$18,000 per tonne (roughly A$23,296 per tonne), Auroch says it’s fully prepared for extensive mining programs this year and to create value for its shareholders.
Company shares are up 2.17 per cent and are trading at 23.5 cents at 10:49 am AEDT.