- Auroch Minerals (AOU) has received “encouraging” assay and downhole electromagnetic results from its Nepean Nickel Project in WA
- Nepean is operated under a joint venture agreement between the company and fellow ASX-lister Lodestar Minerals (LSR)
- AOU says the maiden reverse circulation (RC) and air core (AC) drilling programs were designed to test several magnetic anomalies along a 10-kilometre strike from the historic Nepean nickel mine
- Standout results included an intersection of four metres at 0.49 per cent nickel from 25 metres, cut off at depth by a pegmatite vein
- A moving-loop electromagnetic survey is underway at the project to identify further targets for drill testing and is expected to take 20 days to complete
- Auroch Minerals shares have dipped 3.75 per cent to 19.3 cents each
Auroch Minerals (AOU) has received “encouraging” assay and downhole electromagnetic (DHEM) results from its Nepean Nickel Project in Western Australia.
Nepean is operated under a joint venture agreement between the company and fellow ASX-lister Lodestar Minerals (LSR).
Auroch says its maiden reverse circulation (RC) and air core (AC) drilling programs were designed as first-pass “reconnaissance” to test several magnetic anomalies along a 10-kilometre strike from the historic Nepean nickel mine.
Standout results included an intersection of four metres at 0.49 per cent nickel from 25 metres, cut off at depth by a pegmatite vein.
Additionally, AOU intercepted seven metres at 0.33 per cent nickel from 86 metres, among several other outstanding results.
Auroch Minerals Managing Director Aidan Platel said he is thrilled to see the company potentially honing in on new nickel sulphide discoveries at Nepean.
“The program has been a huge success, with the drill holes identifying thick sequences of high magnesium oxide-fertile ultramafic units overlying a footwall basalt, the perfect setting for Kambalda-style nickel sulphide mineralisation,” he said.
“Furthermore, several thick zones of elevated nickel were intersected to confirm the disseminated sulphides logged by our geologists in the field, which is extremely encouraging,” Aidan continued.
“The presence of DHEM conductors coincident with these zones of elevated nickel gives us excellent discrete targets to immediately test with the next phase of drilling and the high-powered ground moving-loop electromagnetic (MLEM) survey currently underway at Nepean is expected to add further targets for drill testing.”
The MLEM survey is expected to take roughly 20 days.
Auroch Minerals shares have dipped 3.75 per cent to trade at 19.3 cents at 12:21 pm AEST.