- Constellation Resources (CR1) receives more encouraging results from drilling at the Eyre Anomaly target
- This geochemical target is located within the Orpheus Project which is held in a joint venture with Enterprise Metals (ENT) and is in Western Australia
- The company says the results further show the link between nickel-copper-cobalt anomalism and trace magmatic nickel sulphides in an intrusive host rock
- Constellation Resources has submitted a program of works application to conduct follow up aircore and diamond drilling at the Eyre Anomaly
- Company shares are up 2.86 per cent to trade at 36 cents at 2:57 pm AEST
Constellation Resources (CR1) has received new results from drilling within its majority owned Orpheus Project in Western Australia’s Fraser Range province.
In March this year, the company carried out an aircore drilling program within the project which is held in a 70:30 joint venture with Enterprise Metals (ENT).
This drilling aimed to follow up on a previously discovered geochemical target called the “Eyre Anomaly” which is believed to extend for three kilometres of strike and is up to 400 metres wide.
Constellation believes the results have further shown the link between nickel-copper-cobalt anomalism and the presence of trace magmatic nickel sulphides in an intrusive host rock.
Best results include 16 metres at 0.12 per cent nickel, 0.01 per cent copper and 0.02 per cent cobalt; four metres at 0.08 per cent nickel, 0.08 per cent copper and 0.03 per cent cobalt; and four metres at 0.09 per cent nickel, 0.02 per cent copper and 0.02 per cent cobalt.
These build on previously reported results from the southern part of the anomaly and include 21 metres at 0.21 per cent nickel, 0.08 per cent copper, 0.03 per cent cobalt, 52 parts per billion (ppb) platinum and palladium, and 12ppb gold.
The company also drilled three additional holes at the target earlier this month and assays are pending.
Based on the newest results, Constellation Resources plans to accelerate follow-up aircore and diamond drilling at and around the Eyre Anomaly. It has submitted a program of works and will begin drilling once that has been approved.
Company shares were up 2.86 per cent to trade at 36 cents at 2:57 pm AEST.