- Auroch Minerals (AOU) has received a fresh batch of assays from reverse circulation drilling at its 80 per cent-owned Nepean Nickel Project in WA
- The company drilled nearly 4000 metres to test aeromagnetic targets along a 10-kilometre strike
- Pleasingly, latest results returned thick, high-grade nickel sulphides at shallow depths which Managing Director, Aidan Platel, found “uniquely special”
- The positive results have provided further confidence in assessing the potential for an open-pit mining operation at the Nepean Nickel Project
- Auroch is up 4.17 per cent and shares are trading at 25 cents
Auroch Minerals (AOU) has received a new batch of assays from five reverse circulation (RC) holes drilled at the Nepean Nickel Project in WA.
The company owns an 80 per cent stake in the project through a joint venture agreement with Goldfellas who owns the remaining 20 per cent interest.
Auroch drilled 32 holes, for nearly 4000 metres, under this maiden RC drilling program to test high-priority aeromagnetic targets along a 10-kilometre strike.
Pleasingly, latest results have returned thick, high-grade nickel sulphide mineralisation.
Best results include eight metres at 4.3 per cent nickel and 0.37 per cent copper from 35 metres including two metres at 6.86 per cent nickel and 0.62 per cent copper from 37 metres and eight metres at 3.21 per cent nickel and 0.13 per cent copper including two metres at 7.51 per cent nickel and 0.39 per cent copper from 68 metres.
“These kinds of grades and thicknesses would be impressive drill results at any depths, but to get such thick, high-grade nickel sulphides at such shallow depths is something uniquely special,” Managing Director Aidan Platel said.
Auroch is highly encouraged by these results as they lay a “solid foundation” to move towards assessing the potential for an open-pit mining operation at the Nepean Nickel Project.
The company is yet to receive assays from another 17 holes, which are expected in the next few weeks. Also commencing in the coming weeks is a moving-loop electromagnetic survey across the project’s 10-kilometre strike.
Auroch is up 4.17 per cent and shares are trading at 25 cents at 11:11 am AEDT.