Medallion Metals divested its nickel ground holding to NickelSearch (ASX:NIS) in 2021 and still holds a 15.1% stake in the company – which is paying off today with the announcement of shallow nickel sulphides at the Sexton target of the Carlingup project in WA. 

All four holes in the recent RC drilling program intersected massive sulphides, including:

  • 3m at 1.11% nickel, 0.2% copper, 460ppm cobalt from 39m;
  • 5m at 0.51% nickel, 0.06% copper, 321ppm cobalt from 22m;
  • 3m at 1.04% nickel ,0.09% copper, 273ppm cobalt from 72m; and
  • 8m at 0.63% nickel, 0.16% copper, 258ppm cobalt and 204ppm PGM from 121m.

Medallion Metals (ASX:MM8) has also welcomed the news that down-hole electromagnetic (DHEM) surveys show that the mineralisation extends down-plunge and remains open – and identified a strong off-hole conductor. 

Potential for a significant nickel discovery

“We continue to be very encouraged that Sexton has the potential to progress into a significant nickel discovery,” NickelSearch MD Nicole Duncan said.

“Sexton is a great indicator of the ability of Carlingup to host nickel sulphide mineralisation, and possibly represents the edge of increased mineralisation.

“The very high conductivity of the DHEM plates also highlights the potential to intersect a high-grade channel, which will be a key focus for follow-up drilling.”

These results will be followed up with diamond drilling at Sexton, along with RC drilling planned for the priority 1 targets Serendipity, B1, Lipple and Wadley in the coming months.

 

 

 

This article was developed in collaboration with Medallion Metals Limited (ASX:MM8), 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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