NickelX ramps up search for Julimar-style nickel-copper-PGEs at Dalwallinu

NickelX will soon start in depth exploration at its Dalwallinu project in WA where a recent closed-spaced drone magnetic survey has defined significant nickel-copper-PGE targets.

The company is seeking Julimar-style mineralisation at the project, which covers 86km2 of the entire Barra Barra Greenstone Belt and has some of the highest PGE recordings of 73.7 parts per billion platinum and palladium along with 466 parts per million nickel and 843ppm copper seen in surface geochemistry samples within the Western Yilgarn.

NickelX (ASX:NKL) noted that preliminary interpretation of the new magnetic data indicates that the Barra Barra Greenstone Belt intrusive targeted for Ni-Cu-PGE mineralisation represents a folded tabular body, either originally a dyke or a sill.

Overlaying the previously reported auger geochemistry data on the new magnetic data highlights an apparent intrusive body horizon just outboard and bordering the main folded magnetic strata, which is anomalous for nickel-copper-PGE.

Notably, four areas with anomalous metal values have been highlighted in the auger geochemistry data and represent priority targets for follow-up exploration along with investigation of the margins of the antiform folded magnetic body in the west of the project.

Julimar was a major discovery that would not be out of place in the portfolios of major miners, so it is no surprise that the company is keen to discover if Dalwallinu is every bit as prospective as it suggests.

Finding a Julimar lookalike could be transformational for the company, which is capitalised at just $10m compared to Julimar owner Chalice Mining, which has a market cap of $2.4bn.

“The detailed close spaced drone magnetic survey combined with historical and current soil samples, points to some very well-defined exploration targets, seeking Julimar style nickel-copper-PGE mineralisation,” managing director Matt Gauci said.

“The new magnetic data indicates that the Barra Barra Greenstone Belt intrusive targeted for Ni-Cu-PGE mineralisation represents a folded tabular body, either originally a dyke or a sill.

“The exploration team will now progress to a closer spaced soil sampling program over the newly refined targets, prior to a maiden drill program.”

Dalwallinu nickel project

The Dalwallinu project is located within Western Australia’s emerging West Yilgarn, which hosts several recent nickel-copper-PGE discoveries.

Planning is underway to infill auger geochemistry over the four priority areas, which will be followed-up by ground electromagnetic surveys.

Results from both the infill geochemistry and EM will assist with targeting for a maiden drill program which will begin once appropriate permitting is in place.

This article was developed in collaboration with NickelX (ASX:NKL), 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.