Join our daily newsletter At The Bell to receive exclusive market insights
- Todd River Resources (ASX:TRT) says the latest assay results from its Nanutarra WA-based project validate historical results and confirm the intrusion fertility
- Following the completion of five reverse circulation drill holes, assays show elevated nickel and copper values that correspond with historical results
- Additionally, TRT notes that all drill holes hit thick units of peridotite and/or pyroxenite
- Moving forward, the company plans to undertake detailed mapping and surface geochemical sampling to test mineralisation closer to the base of the intrusion
- Shares have been trading 4.1 per cent lower at 7 cents
Todd River Resources (TRT) has received assay results from reverse circulation drilling at its Nanutarra project in Western Australia.
The nickel-copper-platinum group element project is located in the Western Gascoyne region of the state where TRT is currently spending $2 million over a three-year term to earn an 80 per cent interest.
In September the company completed the drilling program which was designed to follow up historical shallow drilling that reportedly intersected anomalous platinum and palladium near the base of oxidation in ultramafic rocks.
Of the five holes drilled, TRT said the anomalism in one titled NURC0001 indicates elevated nickel and copper values that correspond with that identified in historical drilling.
NURC0001 returned the best grades which included two metres at 0.3 per cent nickel, 0.1 per cent copper and 301 parts per billion platinum and palladium from 77 metres.
Additionally, three of the holes intersected the contact between the units and overall the holes showed thick units of peridotite and/or pyroxenite.
Todd River Resources said in addition to validating the historical results, the mineralisation intersected also confirms the potential fertility and overall prospectivity of the intrusive complex.
Moving forward, the company plans to undertake additional work to better understand whether significant mineralisation is present closer to the base of the intrusion.
In this vein, the company is looking to undertake detailed mapping and surface geochemical sampling to mark target areas for future drilling.
Shares were trading 4.1 per cent lower at 7 cents at 1:02 pm AEDT.
