NickelX has completed maiden drilling at its Cosmos South project in WA with a bang after finding ‘significant’ massive sulphides in the first diamond drill hole.

The company encountered a 153m wide zone with multiple horizons of stringer, vein, semi-massive and massive breccia sulphide up to 20m core width between downhole depths from 334m to 487m.

So far so good, since NickelX (ASX:NKL) is targeting EM conductors coincident with strong magnetic anomalies which are along strike and interpreted to be stratigraphic continuations through the project of the sequences that host the deposits at Cosmos and Leinster.

The sulphide-bearing intervals will be assayed for gold and the company will update the market when laboratory analytical results become available.

World class nickel region

The company says the massive sulphide intersected is likely the source of the highly conductive electromagnetic response targeted at the CS1 Target and may account for the magnetic anomaly due to the massive pyrrhotite content.

Notably, the Cosmos South Project is within the highly endowed nickel and gold rich region of the Wiluna Greenstone Belt (WGB) which hosts IGO Limited (ASX:IGO) Cosmos Nickel operations, BHP (ASX:BHP) and Nickel West’s Leinster Nickel operations, and the Bellevue Gold Mine (ASX: BGL).

The sulphides encountered comprise pyrrhotite-marcasite/pyrite and lesser chalcopyrite, and while portable XRF did not detect nickel in the sulphide assemblages, NickelX believes the host geology, sulphide composition and sulphide-quartz breccia matrix habit encountered are similar to descriptions of the nearby Bellevue Gold Mine host geology.




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.