Auric Mining has recorded multiple nickel intercepts from its latest drilling program at the company’s Chalice West project that it says shows potential for nickel sulphide mineralisation at the site.
The explorer has already identified a 7km magnetic feature linked with anomalous rare earths in addition to a 5km strike length gold anomaly at the project 50km from Norseman.
Auric has received around half of its assays from its latest drill campaign and has defined three ultramafic units with two holding distinct nickel anomalies.
Notable assay results show a 9m intercept going 3636 parts-per-million nickel from 15m including a 2m hit at 6663ppm nickel from 18m. Another hole recorded a 13m section recording 2116ppm nickel from 20m. Nine of the company’s drill holes showed evidence of anomalous nickel intercepts.
The explorer says its intercepts occur within weathered ultramafic units that reveal potential for nickel sulphide mineralisation in the unweathered extensions of the same units, similar to komatiite-hosted nickel sulphide mineralisation for which the Widgiemooltha area is renowned
Assay results have now been received for 119 of the 227 bottom-of-hole composite samples and for 177 of the 370 single metre selected samples.
The company is already planning its next phase of exploration with a ground electromagnetic survey across the Chalice West project to highlight and define potential drill targets.
Auric Mining Managing Director, Mark English said: “This is the first phase of results from our exploration program, it provides a great steppingstone for exploration and potential development of what could be a fertile new area for multiple commodities.”
Recent rare earth results at Chalice West showed a 4m hit at 3591 parts-per-million total rare earth oxides, or “TREO” from 41m.
The 4m section includes a high-grade 1m intercept at an outstanding 11,038ppm TREO from 42m with an impressive 22 per cent magnetic rare earth oxides, or “MREO”.
Additional assay highlights contain a 17m intersection going 1699ppm TREO and 21 per cent MREO whilst magnetic granite from bottom-of-hole samples recorded up to 1595ppm TREO.
Just last month the company completed a 7227m air-core drilling campaign for a total of 227 holes drilled at the project.
Chalice West covers three exploration tenements over a total of 408 square kilometres.
Auric sealed a deal to pick up all mineral rights associated with the tenements in May after entering into an option agreement with private explorer Mineral Business Development.
The area was once deemed exclusively prospective for gold given its proximity to ASX-listed Chalice Gold Mine’s nearby operation which has produced over 672,000 ounces of gold over just seven years.
Auric’s latest drill results show there is significant potential for rare earths and nickel in addition to gold. The market will be keen to see the results from the company’s remaining assays from Chalice West early next year.
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