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Caeneus hits resource infill and extensional campaign for nickel-copper-cobalt at Pardoo
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Phase-1 drilling at Caeneus Minerals’ Pardoo Nickel Project has wrapped up, heralding the beginning of resource infill and extensional campaigns to define the economic footprint of the Highway nickel-copper-cobalt occurrence.
This initial reverse circulation (RC) drilling program, which was contracted to Mt Magnet Drilling, was designed to investigate shallow nickel and PGM mineralisation identified from historical drilling.
It also tested the continuity of down-dip mineralisation in the northern part of the occurrence and a possible repeat of the nickel mineralisation to the north-east.
A total of 14 RC holes were drilled and intersected metasediments and altered ultramafic lithologies.
Caeneus (ASX:CAD) says the evaluation of the Pardoo project has recommenced at a time when precious and base metals prices have increased significantly.
What’s next?
All drill samples have been delivered to the analytical laboratory located in Perth where around a 12-week turnaround time is expected.
Pending laboratory availability, the company may consider forwarding a certain number of drill holes for rush order to expedite results.
Background
The company’s Pardoo Nickel Project currently comprises E45/5827 and E45/4671, around 120km east of Port Hedland, Western Australia.
Wholly contained within E45/5827 is the historic Highway nickel-copper-cobalt occurrence with E45/4671 containing potential extensions to the mineralisation along the Pardoo Shear.
The Highway Nickel occurrence was first identified by CRA Exploration Pty Ltd (CRAE, now Rio Tinto Ltd) in 1991 after highly anomalous values of nickel and copper mineralisation were confirmed from extensive regional scale exploration.
During 1992 and 1993, CRAE completed two diamond drill holes, and a single RC drill hole from a locality considered to typically represent both the geology and the potential nickel and copper mineralisation of the Highway occurrence.
Further historical drilling at Highway by the Mithril-Segue Resources Joint Venture between 2007-2011 outlined an 800m long by 50-75m wide, disseminated, and semi-massive nickel copper sulphide system containing 5-30% sulphide minerals.
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