- Auroch Minerals (AOU) has commenced its next phase of drilling at the Saints Nickel Project in Western Australia
- The program will drill 1100 metres across four to six holes to test an anomalous area of conductivity highlighted in a recent down-hole electromagnetic survey
- The program will also delve deeper into the site’s T1 channel target, allowing a follow-up electromagnetic survey to reach greater depths and highlight potential nickel sulphide mineralisation
- Auroch recently closed a $2 million placement, which will fund exploration at the Saints Nickel Project, as well as at the nearby Leinster Nickel Project
- Auroch Minerals shares are 10.9 per cent lower in midday trade, trading for 5.7 cents per share
Auroch Minerals (AOU) has commenced its next phase of drilling at the Saints Nickel Project in Western Australia.
The latest program will drill 1100 metres across four to six holes. The aim of the program is to test an anomalous area of conductivity, which was highlighted by a recent down-hole electromagnetic survey.
The site’s maiden drill program further outlined the target and the upcoming program hopes to build a more detailed picture of the conductive anomaly.
The program will also delve deeper into the site’s T1 channel target, allowing a follow-up down-hole electromagnetic survey to reach greater depths and potentially highlight nickel sulphide mineralisation.
Any new targets outlined at T1 will then be incorporated into the site’s next phase of drilling.
Auroch Managing Director Aidan Platel is pleased that drilling has once again commenced at the site.
“We know we are in a highly-mineralised nickel sulphide system at Saints, and we have successfully identified several basal channels in the area, each of which may be the feeder channel to the nickel sulphide mineralisation,” he said.
The company’s recently completed $12 million private placement will be used to fund the upcoming exploration at the Saints project and the nearby Leinster nickel project.
“Our strong cash position means that we can begin to fast-track our planned exploration programmes, systematically developing and then drill-testing each of these targets over the next six to twelve months. It’s a very exciting time for Auroch and our shareholders,” Aidan added.
Auroch Minerals shares are 10.9 per cent lower in midday trade, trading for 5.7 cents per share at 12:14 pm AEST.