NickelX has moved to pick up a new project in the emerging West Yilgarn Nickel Province which is highly prospective for Julimar-style nickel-copper-PGE mineralisation.

The 86km2 Dalwallinu nickel project covers the entire Barra Barra greenstone belt and is located on accessible private farmland with sealed road frontage and extinguished native title.

Historical geochemical work programs have already identified the presence of highly anomalous nickel-copper-PGE mineralisation at surface which neatly covers the very strong magnetic intrusive mafic/ultramafic units along an interpreted 6km strike.

Despite this, no systematic nickel-copper-PGE exploration has been carried out as previous exploration had focussed on gold and iron ore.

Nickel X (ASX:NKL) plans to carry out a detailed review of historical geochemical and geophysical work before planning the next stage of work programs to find Julimar-style mineralisation in an underexplored district.

Recent work has already identified 12 priority nickel-copper-PGE targets over a 6km strike length.

“The Dalwallinu Nickel Project is an exciting opportunity for the discovery of nickel in the emerging West Yilgarn Nickel Province, and the company is diligently working through the available datasets to establish a work program,” managing director Matt Gauci said.

“Complimenting the Cosmos South project where drilling is set to commence, the company is excited by the build of our nickel portfolio.”

Purchase agreement

Under the agreement with Blue Ribbon Mines and Keops Groups, Nickel X will pay an initial cash consideration of $50,000 and 4 million shares.

The company will then have to pay the vendors another $250,000 in five equal tranches over the next 15 months to secure its 80% stake in Dalwallinu.

 

 

 

This article was developed in collaboration with Nickel X, 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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