Pacific Nickel’s decision to fast-track its Kolosori nickel project has received validation with several holes in recent drilling returning high-grade intersections.

While all 27 holes in the first batch of assays intersected nickel, high-grade intervals of +1.7% nickel were returned from 27 holes. These include notable hits such as 11.5m grading 2.1% nickel from a depth of 2.5m, 10.5m at 2.07% nickel from 1.5m and 10m at 1.75% nickel from 1m.

Importantly, the nickel results are consistent with historical drilling by a previous operator.

Pacific Nickel Mines’ (ASX:PNM) Kolosori project is currently envisioned as a direct shipping ore project thanks to its resource of 5.89 million tonnes grading 1.55% nickel that can be easily dug up and sold with no processing.

“These initial results are consistent with our expectations and we now look forward to the assays from the remainder of the drilling program that we commenced halfway through the year,” chief executive Geoff Hiller said.

“The consistency of the results compared with historical drilling gives us confidence to continue fast- tracking the project.”

Kolosori drilling

The 83-hole drill program had included 11 holes distributed across the proposed first mining area to ensure a representative sample for metallurgical test work while the remaining holes formed the first stage of infill holes designed to increase the confidence level of the current resource.

Six of the metallurgical holes were assayed as part of the initial batch of 27 holes and provided confidence in the thickness and nickel grades encountered in the historical drilling within the Kolosori deposit area.

Drilling of the second stage program of about 150 holes is expected to be completed by the end of this month.

About 120 holes have been drilled to date and samples from the first 72 holes are now with ALS in Brisbane for assaying.




This article was developed in collaboration with Pacific Nickel Mines, 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.