New Nickel Discovery
(not verified)
Western Areas Ltd, was pleased to announce yesterday that the Company has intersected a new massive sulphide zone, including two super high grade results, immediately below the Odysseus North orebody at the Cosmos Nickel Complex (Cosmos).
The new intersections are 160m south of a high grade Inferred Mineral Resource of 0.05Mt @ 11.6% which forms part of the Odysseus North orebody. These intersections, when combined with results from geophysical surveys, represent a potentially significant extension to the high grade Resources at the broader Odysseus Project.
Key highlights include:
WAD002A intersected massive sulphide comprising 2.6m at 12.6% nickel, including 1.6m at 18.0% nickel;
WAD002W1W1W1 intersected massive sulphide comprising 5.3m at 15.2% nickel, including 3.4m at 22.0% nickel;
Down-hole electromagnetic (DHEM) surveys successfully completed in WAD002 identified two strong responses at downhole depths of 1,240m and 1,290m respectively. The 1,240m response is confirmed by drilling as mineralised massive sulphide; and
Potential to significantly extend existing high grade Resources at Odysseus North
Western Areas Managing Director, Dan Lougher, noted that the underexplored potential of the Cosmos Nickel Complex was one of the key drivers of the acquisition.
“On acquiring Cosmos, we had the clear view that the true potential of the project, both for more nickel near existing known orebodies and for new discoveries in a wider regional setting, had not been adequately tested,” Mr Lougher said.
“We’ve begun testing this view which has resulted in both strong potential for adding more high grade Resources near Odysseus North and some very promising exploration hits at Neptune, as reported recently. Additionally, we expect to convert more quantified Mineral Resources at Odysseus North to a higher confidence category and enhance our understanding of this significant deposit.
“Cosmos is starting to deliver on the opportunities we believe exist at the project, and we look forward to continuing this progress throughout the year,” Mr Lougher said.