ASX-listed nickel explorer, Estrella Resources has intercepted three zones of nickel-copper sulphides with a 60 metre step-out diamond drill hole below its T5 nickel-copper discovery near Kalgoorlie in WA. The company says each of the three zones contained a section of massive sulphides, along with highly disseminated, disseminated, semi-massive and stringer sulphides.
The upper two zones correspond with the south plunge of the Upper and Lower T5 Conductors.
The lowest intersection corresponds to a new sulphide zone that includes massives that is emerging below T5 that Estrella previously had trouble picking up with its downhole geophysics.
The result caps off a solid few days for the company that only last week intercepted 12 metres of nickel-copper sulphides on previously untested ground, some 1.4 kilometres along trend from the T5 discovery.
Estrella says the new results from the upper zone contain 34.34m of massive, highly disseminated and disseminated sulphides from 398m down hole. The lower zone contains 20.95m of massive, semi-massive, highly disseminated and disseminated sulphides from about 500.4m downhole.
The company says the new 3.5m sulphide zone identified from about 567.2m contains massive, semi-massive and stringer sulphides on the T5-Broonhill basal contact.
Estrella Managing Director Chris Daws said: “We currently have a highly fertile nickel sulphide contact, open at depth, and open over more than 2km’s of strike with the most recent discovery announced at Broonhill giving us further confidence that we can expect to see a lot more as we continue our exploration efforts. I have always believed that Carr Boyd could deliver a world class orebody and its not disappointing me at this stage. I look forward to what is uncovered next.”
The recently drilled step-out drill hole was sunk into the company’s T5 discovery that sits within Estrella’s wholly owned Carr Boyd project that also hosts the historic Carr Boyd Rocks mine nearby.
The Carr Boyd Rocks mine has historically proved to be quite the workhorse, pushing out about 200,000 tonnes of ore at 1.43 per cent nickel and 0.46 per cent copper in the 1970s. The mine currently has a JORC2004 compliant resource of 636,000 tonnes at 1.4 per cent nickel and 0.5 per cent copper.
Estrella has previously explored the potential of links at depth between the Carr Boyd Rocks mineralisation and the massive sulphides discovered at T5 and every new sulphide discovery in between keeps the theory alive of another economic grade nickel copper discovery within close proximity of Carr Boyd.
With nickel prices trading at near seven-year highs and copper edging close to historical highs, market players will likely be keeping a keen eye on Estrella as the company continues to stack up sulphide intersections around the T5 nickel-copper discovery.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
By Matt Birney
