- Charger Metals (CHR) updates the drilling schedule after confirming massive sulphide targets at its Coates project in Western Australia
- It is planning to test the “compelling” nickel-copper-PGE target found from the update
- Two conductors identified are being considered as priority nickel-copper-VMS targets
- SkyTEM results found 20 priority targets near a defined nickel-copper-PGE area
- Charger Metals shares were trading flat at 80 cents
Charger Metals NL (CHR) updates the drilling schedule after confirming massive sulphide targets at its Coates project in Western Australia’s Avon Valley.
The Coates project contains an intrusive complex within the Jimperding Metamorphic Belt, which also hosts the world class Julimar palladium project, 65km north-east of Perth. The company is planning to test the “compelling” nickel-copper-PGE target found from the update.
Charger’s Managing Director and CEO, David Crook, said: “When we combine the interpretation provided by our geophysical consultant, Southern Geoscience Consultants, of the recently completed fixed-loop EM survey with our existing geochemical data, we have produced a drill target in the emerging PGE and nickel province that demands attention at a time of record nickel and palladium prices.”
The survey confirmed the presence of massive sulphides targets at the Coates Mafic Intrusive Complex. Two shallow conductors identified in another survey are being considered as priority targets for massive sulphide mineralisation that could be related to nickel, copper, or possibly VMS-related mineralisation.
Five diamond drill holes have been designed to test the upper levels of the conductors. Down hole EM surveying will likely follow drilling, to assess the potential for additional nearby conductive rock units.
Further SkyTEM helicopter electromagnetic survey results tested the Coates project for conductors which may include nickel and copper sulphide-bearing rocks. The survey included an area with previously defined nickel-copper-PGE anomalies.
A total of 98 anomalies were picked and ranked from data profiles. From these, 20 priority targets were delineated with target T1 standing out as extensive and is associated with the Coates mafic complex.
Charger Metals shares were unchanged at 80 cents at 9:55am AEST