Estrella Resources (ASX: ESR) has made a nickel and copper discovery while drilling into the T5 electromagnetic target at its Carr Boyd nickel project, north of Kalgoorlie in Western Australia.
The nickel-focused explorer today announced that reverse circulation (RC) drilling into the target has intersected 11m of mineralised basal contact zone including 5m of strong matrix-style nickel and copper sulphides.
According to the company, the sulphides were confirmed by visual inspection of the RC drill chips and through handheld x-ray fluorescence analysis in the field, with the mineralisation appearing to be north plunging and open to the north, up and down dip, as well as at depth.
The Carr Boyd nickel project covers the Carr Boyd Layered Complex, a 75sq km mafic igneous complex that hosts several nickel and copper sulphide occurrences with the the most significant being the Carr Boyd Rocks mine.
Estrella said its latest discovery, which was made about 1.2km from Carr Boyd Rocks, is the most significant result the company has achieved at the project to date and it is now confident it is “on the verge of unlocking the nickel potential of the Carr Boyd area”.
As a result of the find, high-power downhole transient electromagnetic (DHTEM) testing will be conducted later this week to plan for the next round of drilling at the new discovery area.
“By combining the geophysical results of the upcoming DHTEM survey with advanced nickel sulphide geological modelling, Estrella is confident that the company’s consultants can vector the next drilling program towards success at the new T5 target zone,” the company stated.
Estrella chief executive officer Chris Daws said the discovery has reinforced his belief that the Carr Boyd Layered Complex could host a significant nickel/copper orebody.
“It is pleasing to get such a significant result after a number of previous drilling setbacks,” he said.
Samples are currently being assayed by a Perth commercial laboratory. Once DHTEM and assay results are received, detailed plans and sections will be released, Estrella said.
By afternoon trade, the company’s shares were up 9.09% at $0.012.