- Metal Hawk (MHK) shares have dropped today after the company released assay results from its Berehaven Nickel Project near Kalgoorlie
- Four diamond holes were drilled over 1200 metres at the project’s Commodore prospect, but assays have only been received for one
- Commodore will soon be surveyed using downhole electromagnetics (DHEM) to decide follow-up drill targets
- The company started drilling a month ago after raising $2.4 million in a placement to institutional investors
- Shares in Metal Hawk are down 18.6 per cent to $0.35 as of 1:47 pm AEDT
Metal Hawk (MHK) shares have dropped today after the company released assay results from its Berehaven Nickel Project near Kalgoorlie.
Four diamond holes were drilled over 1200 metres at the project’s Commodore prospect, but assays have only been received for one.
That first hole, BVD001, intersected 3.4 metres at 2.32 per cent nickel, and was drilled roughly 50 metres down-dip from an earlier reverse circulation (RC) hole that intersected one metre at 5.89 per cent nickel.
Of the remaining three holes, BVD002 intersected a zone of “matrix-to-heavily disseminated mineralisation,” BVD003 found no ultramafic rocks, and BVD004 intersected a zone of carbonate-altered ultramafic rocks with trace sulphides present.
MHK said the site will soon be surveyed using downhole electromagnetics (DHEM) to decide follow-up drill targets.
“The assay results from our very first diamond hole at Commodore demonstrate the continuity and high nickel tenor present in the system,” Managing Director Will Belbin said.
“We look forward to the results from the next phase of downhole EM at Commodore and regional exploration of the broader Berehaven project, with aircore drilling now underway, as we continue to explore and develop our understanding of this exciting and potentially extensive new nickel sulphide belt.”
The company started drilling a month ago after raising $2.4 million in a placement to institutional investors.
Shares in Metal Hawk are down 18.6 per cent to $0.35 as of 1:47 pm AEDT.