‘A fertile mineral system’: Lycaon on the hunt for deeper nickel-copper sulphides at Bow River
Lycaon Resources has kicked off downhole electromagnetic (DHEM) surveys at the Bow River project in the hunt for nickel-copper sulphide-rich conductors.
Electromagnetic surveys map sub-surface changes in electrical conductivity and are a useful tool for finding nickel and copper sulphides, which are often more ‘conductive’ (allows electricity to travel though) than the surrounding rock.
Down hole EM (or DHEM) can provide a better look at these conductors — which are often found at depth — than surface or airborne surveys.
Lycaon’s Bow River project in the East Kimberley region of WA covers two known nickel-copper-cobalt sulphide prospects – the Salt Lick Creek and Bow River intrusions – which are similar in style and setting to Panoramic Resources’ (ASX:PAN) Savannah mine, around 60km away.
Last month , Lycaon Resources (ASX:LYN) completed a two-hole diamond drill program targeting mineralisation beneath historical drilling, with the first hole 800m down intersecting over 13m of Ni-Cu mineralisation from 364m.
This was outshone by hole two, which included a significant 45.2m interval of blebby to disseminated nickel-copper sulphides from 330.1m.
In both drillholes the presence of nickel and copper was confirmed by handheld XRF.
The company expects data from this DHEM to inform the next drilling program at Bow River planned this quarter.
The DHEM surveys will investigate both diamond drillholes to a depth of 800m each, with the aim of identifying both in-hole and off-hole conductors that may be related to the visual nickel-copper sulphides intersected in the recent drilling.
“The drilling identified significant intersections of nickel-copper sulphides of up to 45m wide,” technical director Thomas Langley said.
“These results clearly demonstrate a fertile magmatic sulphide mineral system is present with the potential to host significant mineralisation.
“We are only just scratching the surface of what could be a large nickel-copper sulphide mineral system at Bow River, which ranks as one of the best regional nickel- copper prospects in the Kimberley outside of Panoramic’s Savannah Mine.”
The company plans to complete additional drilling following the results and interpretation of assays – which are expected in mid-November – and the DHEM survey data.
“Downhole electromagnetic surveys will now be completed to identify any significant conductors and together with the assay data, will build further geological confidence in the mineralisation model ahead of additional drilling programs,” Langley said.
This article was developed in collaboration with Lycaon, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.