- Estrella Resources (ESR) sees further positive assay results from its Carr Boyd Nickel and Copper Project, located near Kalgoorlie in Western Australia
- The company has hit numerous intersections of massive nickel sulphides and some very high nickel and copper assays associated with these drill hits
- Managing Director Chris Daws said that his understanding of this large mineralised system is “gaining with every drill hole”
- These results come at a time when nickel prices have reached its highest since 2007
- Estrella last traded at 2.7 cents per share
Estrella Resources (ESR) has seen further “excellent” assay results from the Carr Boyd Nickel and Copper Project, located near Kalgoorlie, Western Australia.
The company has hit numerous intersections of massive nickel sulphides and some very high nickel and copper assays associated with these drill hits.
Results include 16.2 metres at 3.12 per cent nickel and 0.60 per cent copper from 192.35 metres, including 8.07 metres at 4.31 per cent nickel and 0.75 per cent copper from 199.85 metres.
Managing Director Chris Daws said that his understanding of this large mineralised system is “gaining with every drill hole”.
“The high-grade results received from hole CBDD064 beneath the historic Carr Boyd mine not only sees our geological model intact but also bolsters our confidence to unlock further massive nickel sulphides.”
These results come at a time where nickel prices are reacting to strong demand from the global electric vehicle and battery sector.
“The Ukraine War with Russia has seen nickel prices reach extraordinary levels overnight
on the London Metal Exchange in excess of US$21.80/lb,” Mr Daws said.
“These are prices that haven’t been seen since the resource boom in 2007 and in Australian dollar terms we haven’t seen such prices ever.
“As much as the nickel price rise is welcomed the war in Ukraine is not and I very much pray that peace is restored to the people of Ukraine.”
Just as the market opens for the morning, Estrella last traded at 2.7 cents per share.