Drilling afoot: Accelerate tests for nickel-cobalt potential
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ASX junior, Accelerate Resources (ASX:AX8), has kicked off diamond drilling at the Young Henry nickel-cobalt prospect, which sits within AX8’s Tasmanian Mt Read Project.
AX8 is testing here for nickel-cobalt potential in a 300 metre long conductor.
Drilling is currently at a depth of 50 metres, with a planned depth of 200 metres.
The hole is designed to test a 300 metre long, south-south-west plunging electromagnetic (FLEM) conductor, which sits below gossanous soil samples anomalous in nickel, cobalt, copper and zinc, and has the potential to indicate an accumulation of sulphides.
The fixed loop electromagnetic (FLEM) survey aimed to further define a previously identified 300 metre long airborne VTEM conductor near the northern end of a belt of fault bounded mafic-ultramafic rocks. The survey comprised a 300 x 300 metre loop with EM readings conducted on 75 metre spaced lines.
The Young Henry prospect lies immediately west of the 1.4 kilometre long Henrietta VTEM anomaly, and 18 kilometres north-north-west of the Thomas Creek copper-cobalt-nickel prospect.
The Henrietta target, will be subject to field exploration, with surface samples having returned cobalt grades up to 0.14%.
On top of that, drilling results for the Thomas Creek copper-cobalt target are due imminently.
Of course, as with all minerals exploration, success is not guaranteed — consider your own personal circumstances before investing, and seek professional financial advice.
The broader Mount Read project is situated on the Sorrell Peninsula in western Tasmania. It encompasses a belt of Cambrian volcano-sedimentary rocks correlated with the Mount Read Volcanics (MRV). The MRV hosts all western Tasmania’s significant base and precious metal mines and mineral occurrences, several of which have been significant producers of base metals for over 100 years.
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