More assays from WA nickel project

Today, ARN announced that it had received assays from two diamond drill holes at the VC1 target that we wrote about in our last note. Peak results from the two assays were as follows:

• 0.55m @0.87% Nickel, 0.14% Copper and 0.06% Cobalt from 109.45m.
• 1.5m @0.76% Nickel, 0.29% Copper and 0.06% Cobalt from 150.05m.

Overall, we don’t think these are spectacular results. But it is still a sign that there is nickel in and around the targets that ARN was focussing on with its last round of drilling.

ARN will be following up these drill results with EM surveys which will form the basis for the next round of drilling.

But we are more focussed on the assay results from ARN's recently completed rubidium/lithium drilling program — a precursor for what ARN hopes could be a maiden JORC resource.

We set these drilling results and a potential maiden JORC resource from its rubidium/lithium project as two of the three objectives we want to see from ARN in 2022. To see all of the objectives and why we continue to hold ARN in 2022, see our 2022 Investment Memo.