Golden Mile Resources (ASX: G88) has discovered four anomalies to target after a moving loop electro-magnetic survey was undertaken at the company’s Quicksilver nickel and cobalt project in Western Australia.
The survey was carried out across 5km of strike at the project’s Garard prospect, with previous drilling at other anomalies within the project returning nickel and cobalt mineralisation.
According to Golden Mile, the first anomaly was immediately recommended for drilling due to its strong and consistent geophysical response. The survey has indicated the anomaly is 500m in length and extends 100m below the surface.
Golden Mile has submitted a program of works to the WA Department of Mining, Industry, Regulation and Safety for approval to kick-off drilling at the target.
The second anomaly didn’t have as strong a geophysical response as the first but has indicated there is 2.5km of strike.
Drilling above the second anomaly returned 13m grading 2% nickel and 0.10% cobalt from 37m.
The third anomaly appears to have 500m of strike, while the fourth covers almost 1km. The fourth anomaly is adjacent to the southern-most drill hole at the project which intersected 8m grading 2.16% nickel and 0.03% cobalt from 28m.
Golden Mile anticipates starting its drilling program at the Garard prospect early next month to test the four anomalies.
Exploration at Quicksilver during the December quarter intersected high grade cobalt and nickel across the project.
The December quarter drilling program covered 3km of strike and intersected mineralisation up to 56m thick. The campaign comprised 66-holes for 4,9800m. The thickest 56m intersection returned 0.77% nickel and 0.05% cobalt and contained two higher grade intervals.
Golden Mile also carried out a resampling program in mid-December last year, which returned 42m grading 1.14% nickel and 0.06% cobalt from 26m. This included 10m grading 2.10% nickel and 0.10% cobalt from 55m and the higher grade 2m interval with 3.30% nickel and 0.14% cobalt.
Quicksilver is situated in WA’s south west mineral field which hosts several well-known deposits.
Shares in Golden Mile had risen more than 14% to hit A$0.77 in mid-afternoon trade.