Medallion Metals divested its nickel ground holding to NickelSearch (ASX:NIS) in 2021, and it’s paying off with NIS announcing today its downhole electromagnetic (DHEM) survey has confirmed the prospectivity for massive sulphides at the Sexton target at the Carlingup Nickel Sulphide Project in WA. 

The DHEM plates extend 80m down dip and >150m down-plunge from RC drilling last year that intersected 6m of massive and matrix sulphides from 149m in drill hole 23NRC012.

The DHEM plates are also coincident with historic nickel sulphide intersections, giving NIS a confidence boost in the extensional targets for planned follow up drilling scheduled for Q2 CY23.

Drilling planned on 30+ greenfield targets

NIS MD Nicole Duncan says there are strong indicators that Sexton could progress to a significant nickel discovery.

“The modelled DHEM plates and visual mineralisation intercepted in the maiden drill program suggest mineralisation extends at depth and down-plunge,” she said.

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

“The recent drilling results and success of the DHEM surveys give us confidence in continuing with systematically testing our 30+ greenfields targets defined across Carlingup.

“We look forward to commencing follow-up drilling at Sexton and maiden RC and Diamond drill programs at greenfields targets, Lipple, Wadley and John Ellis West in Q2 CY2023.”

Medallion currently holds a 15.1% interest in NIS.

 

 

 

This article was developed in collaboration with Medallion Metals Limited, 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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