- Estrella Resources’ (ESR) shares have soared 214 per cent after making a massive nickel sulphide discovery within its Carr Boyd Project in WA
- The sulphide mineralisation is 2.9 metres thick and was intersected at the southern end of the T5 prospect
- Estrella is conducting a four-hole drill program, with three holes completed and the final hole is now in progress
- Following this encouraging news, Estrella is planning to rapidly expand exploration at Carr Boyd once development activities have been completed
- Company shares have skyrocketed 214 per cent and are trading for 4.4 cents
Estrella Resources’ (ESR) shares have soared 214 per cent after intersecting massive nickel-copper sulphide mineralisation at the southern end of the T5 prospect.
The sulphide mineralisation is 2.9 metres thick and was intersected from a 435.9 to 438.8-metre depth.
T5 is located 1.1 kilometres northeast from the historic Carr Boyd mine and was identified in 2019 after reverse circulation (RC) drilling.
The Carr Boyd Nickel Project is located in WA and comprises the Carr Boyd Layered Complex (CBLC) which was discovered in the late 1960s. Between 1973 and 1977, the CBLC produced 202,110 tonnes of ore at an average grade of 1.43 per cent nickel and 0.46 per cent copper. The CBLC hosts the historic Carr Boyd mine.
The diamond hole was drilled 300 metres south of T5 and aimed to test the Carr Boyd Layered Intrusions contact at depth, below and south of existing mineralisation.
“It is certainly an unprecedented time for all those involved with Estrella and the Carr Boyd Rocks Ni-Cu Project. Modern science, technology, belief, and persistence has led to this highly significant discovery which is now beginning to unlock the true potential of T5,” CEO Chris Daws said.
Estrella has completed three diamond core holes and the fourth and final hole is now in progress.
The company is now planning to rapidly expand exploration at Carr Boyd once development activities, including infrastructure, more drill rigs, personnel and support, have been completed.
Company shares have skyrocketed 214 per cent and are trading for 4.5 cents just after midday trade.