Recent results from Leeuwin Metals’ maiden drilling program at William Lake, within the world-class Thompson nickel belt, suggests the company is onto a project winner of immense scale.

Drilling at Leeuwin Metals’ (ASX:LM1) William Lake nickel project in Manitoba, Canada has made a successful start following the intersection of multiple zones of massive sulphide and disseminated nickel sulphide mineralisation.

A stand-out intersection from hole WLC23-367 at the W56 target hit a 1.4m massive to semi massive sulphide zone with spot pXRF of 5% nickel within a 24m zone of disseminated nickeliferous sulphides from 227.2m.

Drilling is ongoing but so far, eight holes have been completed totalling ~400m with priority assays expected in the coming weeks.

 

Energy transition boosting nickel developers

LM1’s nickel discovery at William Lake couldn’t come at a better time, with governments in North America and Europe keen to diversify supply outside of Indonesian and Chinese control to match demand from the battery and electric vehicle industry.

The fear of missing out has sparked an industry wide shift to investing upstream and while this trend has largely played out in the lithium space, more and more deals are coming to the fore in the nickel sector as well.

The most recent example of this is the strategic partnership entered into by automaker Stellantis and Kuniko (ASX:KNI), which saw Stellantis become a major shareholder in the Norway nickel explorer and ink a term sheet for future offtake.

 

Leeuwin in box seat to capitalise

“The exploration program has not only confirmed the accuracy of our existing geological model but has also showcased the immense scale of the project,” LM1 managing director Christopher Piggott explains.

“The utilisation of drilling and DHEM techniques has further reinforced the view that our project represents a significant nickel system.

“Given the desirability of high-grade Class 1 nickel deposits in the context of the green energy transition, Leeuwin is in an ideal position to capitalise on this opportunity at William Lake.”

 

 

This article was developed in collaboration with Leeuwin 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.

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