High Grade Metals unearths ‘impressive grade’ cobalt-copper-nickel in Austria
Published 27-MAR-2018 12:57 P.M.
|
2 minute read
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
High Grade Metals (ASX:HGM) today announced that results are in from a geochemical sampling programme at the Nockelberg prospect in the Leogang exploration area.
The Leogang Project is located in the Austrian district of Zell am See, Federal State of Salzburg. The Leogang exploration area covers a total area of approximately 12 square kilometres, and includes the historical Nockelberg and Leogang mine sites.
The results include grades of up to 0.68 per cent cobalt, 7.5 per cent copper and 3.5 per cent nickel in whole rock samples taken near historic adits, and anomalous copper, cobalt and nickel in soil samples.
Grades of such ‘waste’ material are extremely positive indicators of potential subsurface grade which was, at times, economically extracted from the Nockelberg area.
The sampling programme has now confirmed that:
- the waste dump areas outside major adits contain rocks of high grade materials as they may be representative of material previously extracted; and
- the lower target layer is supported by a geochemical anomaly (and could thus be mineralised).
This confirmation, in turn, supports the next phase of exploration at the Nockelberg prospect.
At the same time, it’s worth noting that this is an early stage play and investors should seek professional financial advice if considering this company for their portfolio.
The broad soil geochemical anomaly adds credence to the contention that the bottom layer, previously regarded as not mineralised, may be a suitable drilling target.
Sampling was focused on the old waste dumps from the historic rock extraction process. A waste dump is where material not deemed through visual assessment as ‘high grade enough’ to process is discarded. Where material was not taken for processing, it was discarded. Note that it is not a tailings dump, which is produced as a result of primary ore processing (consisting of leftovers).
The presence of high grade copper suggests that the material was discarded because the miners’ focus was not copper — it was either cobalt or nickel.
HGM CEO, Torey Marshall, said “As we move through the exploration program in Austria, we are following a systematic path. In this case, we are able to show that target layers modelled are supported along their length by geochemical (soil) anomalies giving multiple targets.”
“Further, samples from ‘waste’ still carry, what I regard, as an impressive grade. Having new geochemical evidence of the grade of mineralisation based on whole rock samples, and comprehensive geological modelling completed, the Company will create an Exploration Target assessment for this prospect.”
General Information Only
This material has been prepared by Jason Price. Jason Price is an authorised representative (AR 000296877) of 62 Consulting Pty Limited (ABN 88 664 809 303) (AFSL 548573) (62C), and a Director of S3 Consortium Pty Ltd (trading as StocksDigital).
This material is general advice only and is not an offer for the purchase or sale of any financial product or service. The material is not intended to provide you with personal financial or tax advice and does not take into account your personal objectives, financial situation or needs. Although we believe that the material is correct, no warranty of accuracy, reliability or completeness is given, except for liability under statute which cannot be excluded. Please note that past performance may not be indicative of future performance and that no guarantee of performance, the return of capital or a particular rate of return is given by 62C, Jason Price, StocksDigital, any of their related body corporates or any other person. To the maximum extent possible, 62C, Jason Price, StocksDigital, their related body corporates or any other person do not accept any liability for any statement in this material.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.
