Has Dynamic caught the tail of a ‘fertile nickel sulphide system’?
Dynamic believes it is on the trail of a “fertile nickel sulphide system” at the underexplored Lake Percy project in WA. Planning for the next phase of drilling is underway.
Lake Percy is centred around the northern extension of the Lake Johnston greenstone belt, which hosts the Emily Ann and Maggie Hays nickel mines and the recent Medcalf spodumene discovery by Charger Metals (ASX:CHR).
In April, drilling at Lake Percy pulled up several significant nickel hits at the LP1 and LP2 targets, including a highlight 16m @ 1.11% Ni and 645ppm Cu from 32m downhole.
In addition to these significant results from the weathering profile, bottom of hole (fresh rock) geochemistry at the LP2 target returned 0.35%Ni, 236ppm Cu and 38% MgO, suggestive of a fertile nickel sulphide system.
New geochemical analysis conducted on Lake Percy samples has now returned platinum and palladium in fresh rock “providing further support for presence of fertile nickel sulphide system”, Dynamic says.
“A key component in the mineralogy of massive sulphide nickel deposits is the presence of Platinum Group Elements (PGE) including platinum (Pt) and palladium (Pd), in addition to high MgO content of the ultramafic,” it says.
“We are delighted to receive confirmation of anomalous PGEs in the fresh rock at Lake Percy in addition to the nickel and copper. It strengthens our confidence that we are on the right track, that we have right ingredients for a potential nickel discovery in this underexplored belt.”
Historic geophysical surveys are now being reprocessed over this area to guide the next phase of deeper drilling in the search for massive sulphide nickel in this underexplored greenstone belt.
In March, Dynamic announced thick, high-grade nickel in maiden drilling from Dordie Far West (DFW) at Widgiemooltha, adjacent to nickel operations including Cassini, Wannaway, Mariners, Miitel, Lanfranchi in the Kambalda district.
The five holes for 736m were drilled over a strike length of ~300m at DFW, where similar results were unearthed by producer Mincor Resources (ASX:MCR) in the late 2000s.
The drilling blitz has continued across a bunch of targets, most recently the D3 and D5 nickel prospects.
Up to 12 drill holes are planned to test the two nickel targets, Dynamic said Tuesday. Drilling is anticipated to be complete within one week.
This article was developed in collaboration with Dynamic Metals, 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.