NickelX to spin off European IP for a stake in upcoming ASX debutante Eyre Metals
Special Report: NickelX is about to kick off its 1,700m RC drilling program at its Dalwallinu critical minerals project later this month and will receive a finder’s fee for providing project data for unexercised options to purchase Central European critical minerals projects.
Explorer NickelX (ASX:NKL) is targeting nickel, copper and platinum group elements (PGE) at Dalwallinu, where it’s chasing Julimar-style mineralisation in the same vein as nearby Chalice Mining’s (ASX:CHN) monster Gonneville Ni-Cu-PGE sulphide deposit.
Assays from a recently completed infill auger drilling soil sampling program defined multiple, high-priority geochemical anomalies over a combined strike length of ~12km at Dalwallinu.
The high-priority DEM1 and DEM2 targets represent some of the highest PGE assays (73.7ppb Pt and Pd) the West Yilgarn has shown, as well as significant and coincident anomalous values of up to 466ppm Ni and 843ppm Cu.
“The NickelX team are very excited to commence drilling shortly at the Dalwallinu project which has significant prospectivity for Ni-Cu-PGE mineralisation and numerous high-priority targets, prospective for Julimar type Ni-Cu-PGE mineralisation,” NKL MD Matt Gauci says.
Public unlisted company Eyre Metals is planning to list on the ASX this year through an upcoming IPO, with NKL to receive 1 million fully paid shares and an expected board seat upon its entrance to the market in return for project IP data in relation to the ‘Euro Option’.
Eyre Metals intends to pursue the Euro Option nickel and lithium projects in Central Europe via its own agreement with its project vendors.
The IP deal and subsequent stake in Eyre Metals means NKL retains exposure to the projects as it concentrates on its Dalwallinu assets in the meantime.
“The company is pleased to have executed a finder’s fee agreement with Eyre Metals in respect of the projects related to the Euro Option, which lapsed recently,” Gauci says.
This article was developed in collaboration with NickelX, 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.