Great Southern Mining is eyeing off WA’s latest nickel discovery after a recently completed infill Fixed- Loop Electro-Magnetic or “FLEM” survey at its wholly owned East Laverton project confirmed the presence of compelling bedrock conductors. According to the company, the two anomalies will be drill tested in the weeks ahead, with the larger kilometre-scale target the first in line.
The work follows the initial discovery of the anomalies about 3 months ago by geophysical consultancy group Newexco Exploration. The results of the latest survey have now confirmed the presence of the conductors and used to update the analysis, modelling and precision of the finds.
Great Southern says its larger, more compelling target straddles the rim of an interpreted diorite hill magmatic intrusion - a geological feature that may indicate massive nickel sulphide mineralisation.
Incredibly, no significant nickel-copper exploration has been completed over the project area to-date and the zone around the large conductor is free of historical drilling.
Management says the geology of the East Laverton project is distinctive from other nickel projects in the state given its potential to house magmatic nickel deposits in the style of the legendary Nova-Bollinger deposit. These types of deposits are known to produce large conductors, such as the one confirmed through Great Southern’s recent geophysical survey.
The company is now gearing up for a drilling campaign that it says could prove transformative for Great Southern should the results match the excitement. Drilling approvals are now underway for a 600 metre hole to home in on the target, with the pending work to also include a second, 500m RC hole chasing a more discrete conductor in the centre of the magmatic intrusion.
In addition, the company is planning supplementary geophysical work along the fertile Rotorua complex that has yet to be effectively drill tested.
The Great Southern brain trust has also enlisted Dr Jon Hronsky, a highly experienced nickel consultant, to advise on the project and its nickel and platinum-group element potential.
Nickel has become the most sought after commodity on international metal exchanges in recent days with the spot price sky-rocketing approximately 90 per cent higher to a new peak around US$55,000 a tonne amid fears of a supply shortage led in part by ongoing conflict in eastern Europe. London Metal Exchange warehouses have reported physical inventories down almost 70 per cent from levels less than 1 year ago.
The potential discovery of a significant nickel deposit could not be timelier. Although it’s still early days, the company says confirmation of kilometre-scale conductors at the project could be the beginnings of a larger game-changing discovery for Great Southern Mining. If the excited chatter around the campfire is anything to go by, it certainly seems to be a case of ‘watch this space’.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
