- Metal Hawk (MHK) confirms high grade nickel sulphide at the Commodore prospect, within its Berehaven Project in WA
- Initial results have been received from three holes drilled, returning one metre at 5.89 per cent nickel from 144 metres
- The company says the results are outstanding and suggest part of a significant untested komatiite system
- Further, deeper drilling is planned to start in October
- Shares are trading 16.9 per cent higher at 72.5 cents at 11:18am AEST
Metal Hawk (MHK) says the initial assay results from reverse circulation (RC) drilling at its Commodore prospect, within its Berehaven Project in WA confirm the presence of high-grade massive nickel sulphides.
The results follow the company’s greenfield discovery earlier this month which saw its share price jump.
Three holes were drilled with results received from the lower section of the discovery hole, which intersected one metre at 5.89 per cent nickel from 144 metres.
MHK said the geochemistry from this “highly weathered” zone indicated that there could be more nickel sulphides located at depth.
While no significant sulphide mineralisation was identified in two of the holes, Metal Hawk said the targeted ultramafic horizon was intersected at depths ranging from approximately 90 metres to 114 metres down hole.
The ultramafic rocks intersected were reportedly extremely weathered and ferruginous. The company is planning to conduct deeper drilling and a down hole electromagnetic survey in mid-October to test the underlying fresh rock.
Assays returned nine metres at 0.31 per cent nickel, 185 parts per million copper, 18 parts per billion platinum and 34 ppb palladium from 135 metres to 144 metres.
Results from the remainder of the discovery hole and the other two drill holes are pending.
Managing Director Will Belbin said the results so far were “outstanding” and validated the company’s geological model and exploration targeting.
“We believe that the mineralised sulphide zone at Commodore may represent part of a significant untested komatiite system,” Mr Belbin said.
“The Berehaven Project is incredibly underexplored for nickel sulphides and we have several kilometres of prospective stratigraphy along strike from Commodore.”
Shares are trading 16.9 per cent higher at 72.5 cents at 11:18am AEST.