- Desert Metals (DM1) uncovers two near-surface nickel prospects through reconnaissance aircore drilling at its Innouendy project in WA
- The newly identified Cattle Yard prospect has returned an assay of four metres grading 1.76 per cent nickel and 0.11 per cent cobalt from 16m
- The second unnamed prospect, three kilometres from Cattle Yard, returned an intercept of 4m at 0.585 per cent nickel adjacent to an untested magnetic anomaly
- Desert Metals is planning a follow-up drilling program to define the extent of mineralisation and target any associated sulphides
- DM1 shares trading 10.5 per cent higher at 37 cents
Desert Metals (DM1) has uncovered a pair of near-surface nickel prospects through reconnaissance aircore drilling at its Innouendy project in Western Australia.
The newly identified Cattle Yard prospect returned an intercept of 32 metres grading 0.65 per cent nickel from 16 metres to end-of-hole including 4m at 1.76 per cent nickel and 0.11 per cent cobalt.
The company said the mineralisation encountered at Cattle Yard extends for 100m and remains open along strike, to the south-east and at depth.
Desert Metals plans to conduct follow-up drilling to define the extent of the shallow mineralisation and target any potential associated sulphide sources.
The second unnamed prospect, an untested conductor, was identified about three kilometres north-east of the Cattle Yard prospect.
One of the holes at the second prospect intersected 4m at 0.585 per cent nickel from surface. The drill result occurred adjacent to an untested magnetic anomaly.
The company said the nickel grade in fresh rock suggested a sulphide source and it intended testing the extent of the conductor and magnetic anomaly with further drilling.
Desert Metals was mobilising a drill rig to the project’s Dingo Pass prospect. Drilling is expected to begin there this week.
DM1 shares were trading 10.5 per cent higher at 37 cents at 12:21 pm AEST.