- Estrella Resources (ESR) receives “best grades to date” from step-out drilling at its Carr Boyd Project north of Kalgoorlie in Western Australia
- Results included 12.8 metres at 0.96 per cent nickel and 0.79 per cent copper with 0.85 g/t PGEs in the lower zone
- A new zone was also confirmed, with 3.7 metres at 1.76 per cent nickel and 0.66 copper with 1.1 g/t PGEs which occurs as massive matrix breccia sulphides
- With only a small portion of the basal contact area tested, Managing Director Chris Daws said the results demonstrate an ability to unlock further prospective mineralisation
- Shares were trading 3 per cent higher at 3.4 cents on market close
Estrella Resources (ESR) has received some of the best grades to date from step-out drilling undertaken at its Carr Boyd Project north of Kalgoorlie in Western Australia.
The company says it has uncovered the presence of further massive nickel-copper sulphides, which have returned assays it considers significant, in the first 60 metres of southern step-out drilling.
In the upper zone, grades peaked at 11.62 metres at 0.9 per cent nickel, 0.46 per cent copper and 0.61 grams per tonne (g/t) platinum group elements (PGE), including 0.95 metres at 2.78 per cent nickel and 0.23 per cent copper with 1 gram per tonne PGEs.
In the lower zone, diamond drilling intercepted 12.8 metres at 0.96 per cent nickel, 0.79 per cent copper and 0.85 g/t PGEs.
These results included 1.81 metres at 2.8 per cent nickel and 0.44 per cent copper with 1.53 g/t PGEs.
A new zone was also confirmed, with 3.7 metres at 1.76 per cent nickel and 0.66 copper with 1.1 g/t PGEs which occurs as massive matrix breccia sulphides.
Additionally, Estrella said the upper two zones confirm the south plunge of the T5 conductors.
With only a small portion of the basal contact area tested, Managing Director Chris Daws said the results demonstrate an ability to unlock further prospective mineralisation.
“In what is fast becoming a common theme, Estrella Resources is continuing to unearth more nickel at Carr Boyd and these latest results are some of the best nickel assays that we have received to date,” Mr Daws said.
“As we progress the drilling towards Christmas and New Year, I can only get more excited about what we may uncover next for our shareholders, I look forward to reporting any significant updates.”
The company is progressing its phase four reverse circulation drill program which has enabled tracing of the basal contact two kilometres to the north of T5.
While 4600 metres of drilling has been completed in the last eight weeks, Estrella said there is currently a significant delay in turn around times for assays in excess of 10 to 12 weeks.
Estrella reports that it is using this lag in assay returns to allow for an upgrade to the RC capability on the current rig.
Moving forward, the company is aiming to complete at least 25,000 metres of reverse circulation drilling into the Broonhill, Mossgiel and Gossan Hill prospects during the 2021-2022 financial year.
Shares were trading 3 per cent higher at 3.4 cents on market close.