Emu NL is narrowing in on nickel targets at its Graceland and Viper projects in WA after electromagnetic, or “EM” surveys identified anomalies over previously recognised gravity and soil sample anomalies. The company is now planning for a 2,500-3,000 metre rotary core drilling program in the second quarter of 2022 with the recent events in Europe driving nickel prices to 11-year highs.
According to the company, the coincidence of soil geochemistry and geophysical magnetic anomalies at each project have elevated confidence in the targets, leading to the current planned drilling program. Emu has also applied for additional exploration licences adjoining Graceland to cover prospective extensions to the aeromagnetic and gravity anomalies.
The company completed a three-loop fixed loop EM survey at the Graceland project area near Hyden in February, targeting bedrock magmatic nickel sulphide mineralisation previously revealed through its soil sampling program. Significant conductors were identified by the new geophysical survey coincident with auger sample nickel, copper and chrome geochemical anomalies identified by Emu in 2021.
At the Viper project near Jerramungup, a single fixed loop EM survey was completed over the historic Netty copper mine and surrounding areas including prospective parallel dyke systems and multi-element geochemical anomalism identified in Emu’s successful 2021 auger drilling program.
The Netty mine operated between 1907 and 1969, producing small quantities of high-grade copper ore from a shallow underground operation. Reports show the upper levels of the mine produced oxide ores rich in both malachite and azurite before transitioning into coveted, chalcopyrite sulphide mineralisation at depth.
The company says it is onto three EM conductors, two of which are coincident with elevated copper and nickel levels identified in the auger soil geochemistry. Management is now planning to conduct 500 metres of initial rotary core drilling at Viper targeting all three shallow EM conductors. Drilling will also target mineralised zones beneath the historic high-grade Netty Copper mine searching for zones of broadly disseminated copper and seeking to improve Emu’s understanding of the geological setting of the copper mineralisation.
Copper prices have hit all-time highs recently as traders build stock over fears of further supply-chain disruption. The COMEX market in New York reached US$10,910 per tonne, up 10 per cent over one fateful week. Russia is not a significant producer of copper; however, it is the world’s third-largest producer of nickel which has also rocketed up fourteen per cent to US$34,000 per tonne. Nickel is a necessary metal in stainless steel used in food processing equipment, mobile phones, medical equipment, transport, buildings and power generation but more recently has come into vogue given its use in lithium batteries.
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