Maximus Resources fields shallow high-grade nickel at Misho discovery with copper and PGE to boot
Proactive Investors
Published Mar 21, 2023 11:36
Updated Mar 21, 2023 12:00
Maximus Resources fields shallow high-grade nickel at Misho discovery with copper and PGE to boot
Maximus Resources Ltd (ASX:MXR) has intersected shallow high-grade nickel in an aircore drilling program, along with copper and PGE mineralisation, at the new Misho Nickel Prospect, just 25 kilometres from BHP’s Nickel Concentrator in the world-class Kambalda district, Western Australia.
The company’s first assays from 19 completed aircore holes were within a broader mineralised zone intersected in the centre of a 350-metre interpreted komatiite channel.
Several holes were submitted for priority assaying following positive field observations with results from the first hole intersecting:
- 20 metres at 0.5% nickel, 492ppm copper and 126ppb PGE from 10 metres, including 4 metres at 0.9% nickel 1,336ppm copper, 238ppb PGE from 10 metres and 2 metres at 1.2% nickel, 1,705ppm copper, 987ppm cobalt and 293ppb PGE from 11 metres.
Moving forward, the company will kick off its follow-up reverse circulation drill program, which is scheduled to begin in the following weeks.
“Fantastic start”
Maximus managing director Tim Wither said: “These initial results exceed our expectations from a first-pass aircore program.
“It is exciting at this early-stage exploration program to intersect strong nickel intervals and highly anomalous copper and PGEs, suggesting a nickel sulphide origin rather than lateritic supergene enrichment of nickel, indicating the potential discovery of a fertile mineralised komatiite channel.
“The results are a fantastic start for the company’s renewed nickel exploration program and give us confidence in continuing drill testing many more prospective nickel targets across the highly fertile Spargoville tenements.
“The company remains well funded to pursue our systematic gold and nickel exploration programs.
“We look forward to receiving the remaining assay results for Misho and the other gold and nickel targets, and we are excited to start the follow-up reverse circulation drill program at Misho in the coming weeks.”
Drill highlights
Maximus’ aircore program was designed to target nickel sulphide pathfinder elements such as copper and PGE along an interpreted basal contact position.
To narrow the search for Kambalda-style nickel sulphide deposits, it is crucial to identify the basal contact position of komatiite channels, which is the primary source of economic nickel deposits in the Kambalda region.
The company’s aircore drilling has effectively defined the location of the komatiite basal contact and associated nickel-copper-PGEs in the regolith, indicating fertile ultramafics aiding follow-up reverse circulation (RC) drilling.
Get The App
1AAC007 aircore drill chips with mineralised interval and regolith geology.
Forward plan
Following the positive aircore results, a nine-hole, 1200-metre RC drill program has been designed to test the strike and plunge of shallow intersected nickel mineralisation.
The RC drilling contractor is expected to mobilise to the Misho nickel prospect in early April.
The drill program is anticipated to be completed in 1-2 weeks, with assay results expected to be 4-6 weeks once samples are submitted.
Read more on Proactive Investors AU
Disclaimer
Written By: Proactive Investors
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.