Nickel Exploration Prospects

East Cooee

The East Cooee prospect area is on the eastern limb of the Cooee Anticline and is currently poorly defined by drilling. The estimates of nickel mineralisation completed by Lunnon Metals are therefore only considered as an Exploration Target and are not reported as Mineral Resource. There is however sufficient drilling to highlight the potential of the area and its worthiness for ongoing exploration.

The estimation by the Company of a potential exploration target for nickel mineralisation in the area in 2020 concluded that a range of between 500 kt-750 kt @ 1.25% to 2.5% Ni was possible on the 11 hanging wall mineralised surfaces and at/on the basalt-ultramafic contact in trough locations. Importantly the first of two potential trough positions modelled (West Trough) is generally poorly tested with respect to potential trough mineralisation while the second parallel, down-dip, trough (East Trough) has numerous sparsely drilled mineralised intercepts, including holes:

  • CD555: 1.24 m @ 3.70% Ni from 196.41 m;
  • CD587: 2.25 m @ 3.36% Ni from 285 m; and
  • CD315: 3.33 m @ 2.75% Ni from 479.9 m.

The above intercepts are considered to be approximate true widths of the mineralisation recorded. The East Cooee prospect areas will immediately feed into the Company's surface exploration program and have the potential to define near surface nickel mineralisation with targeted RC drill campaigns.

Cooee "Gap"

The Company’s re-interpretation of the litho-structural setting across the Project area indicates there is potential for a further two previously unidentified troughs in the area termed the ‘Cooee Gap’. The prospectivity of this area is highlighted by the following observations:

  • It displays the strongest and highest magnitude nickel-in-soils geochemical anomalism within the Project. The image below drapes the geochemical nickel-in-soil data (at surface) over the 3D modelled Lunnon Basalt contact. The basalt contact is shaded darker to illustrate a 50 m wide buffer around any drill testing intercept; and
  • The area also records anomalous thicknesses of the hangingwall ultramafic rocks, interpreted to be due to either structural thickening or thick original komatiite flows. Both of these are of interest as possible indications of conceptual concealed structural or trough style mineralisation.
Perspective view of the Cooee "Gap" illustrating surface nickel in soils anomalism
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