Drilling results at Auric’s Chalice West suggest there’s a lot more room to grow

Assays received for about half of the initial aircore drilling program at the Chalice West Project show multiple nickel intersections and highlight exciting opportunities for several other commodities such as REE and gold.

Around 227 aircore holes were drilled for 7,227m at Auric Mining’s (ASX:AWJ) project near Higginsville-Widgiemooltha, where three ultramafic units were defined – and two showing distinct nickel anomalism.

Stand out nickel results have been returned for nine of the holes including 9m at 3,636ppm nickel including 2m at 6,663ppm nickel in hole AAC0279 and 13m at 2,116ppm nickel in hole AAC0311.

The company says these intersections occur within weathered ultramafic units, revealing the potential for nickel sulphide mineralisation in the unweathered extensions of the same units.

Drill holes were also logged by a geologist at 1m intervals and the lithologies, particularly in the clay-weathered sequence, compared with pXRF results for chromium (Cr), titanium (Ti) and zirconium (Zr) to better constrain the clay-weathered protoliths.

‘Fertile new area for multiple commodities’

AWJ managing director Mark English says these results provide a great steppingstone for potential development of what could be a fertile new area for multiple commodities.

“We’ve intersected high REE grades in clays, one result being 4m at 3,591ppm (TREO) including 1m at 11,038ppm (TREO) with favorable chemistry that are linked to a strong prospective 7km magnetic feature as well as some good nickel results

“A strong magnetic high nearby represents another enticing target,” he adds.

“Drilling has identified three weathered ultramafic units, two of those with strong nickel anomalism. Our exploration model for nickel compares the new setting with the nearby Widgiemooltha Dome, host to numerous komatiite-hosted nickel deposits.”

What’s next?

After receiving the remaining drill assays, the results will be compiled and interpreted.

AWJ believes there is potential for nickel sulphide mineralisation along the Chalice West Prospect ultramafics – a ground Electromagnetics (EM) survey to define conductive sulphide units will be the next exploration step.

This article was developed in collaboration with Auric Mining, 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.