AVL prepares to drill just down the road from Chalice’s Julimar discovery
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AVL has scored up to $112,500 in grant funding from the WA Government to help drill the exciting Coates nickel-copper-PGE-gold project, south east of the Chalice’s world-class Julimar discovery.
Early indications are that Coates and Julimar sit in very similar rocks.
Under the co-funded drilling program, Australian Vanadium (ASX:AVL) will drill 11 holes across the intrusion with Reverse Circulation (RC) to 60-75m depth, followed by diamond drilling to depths of between 120-300m.
Downhole Electromagnetics (EM) will then be used to evaluate the rocks around the drill holes for ‘conductors’.
EM surveys map sub-surface changes in electrical conductivity and are a useful tool for finding sulphides.
This technique has been highly successful in the identification of mineralised bodies in recent exploration in this region, AVL says.
Soil sampling programs will continue to outline geochemical targets in tandem with the part government-funded drilling program.
“While AVL’s main focus remains on the development of the Australian Vanadium Project, our geological data review of the Coates Mafic Complex identified its significant similarity and potential to the Ni-Cu-PGE-Au discoveries such as those at Julimar and Yarahwindah and the associated discovery opportunity,” AVL managing director Vincent Algar says.
“The excellent exploration incentive scheme run by the WA Government will assist with drilling work in this exciting region.”
The company already has drilling locations approved for the proposed program, and drilling will commence when internal resources are available.
The program timetable must be concluded and reported within one year of the grant.
This article was developed in collaboration with AVL, 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.