Estrella Resources Limited (ASX: ESR) has received significant assays for the last five Phase 3 diamond drill holes at the T5 Prospect at its 100%-owned Carr Boyd Project in Western Australia.
The assays received have confirmed the company’s belief that the T5 basal contact can host economically significant nickel-copper sulphides with significant credits for platinum, palladium and silver.
Diamond hole CBDD055 and the two wedge holes CBDD055A and CBDD055B have intersected substantial widths of nickel and copper sulphides.
Managing Director, Chris Daws, said that of note were the very high copper and silver assays received in hole CBDD055 just above the basal contact. This broad zone of sulphides correlates well with the previous intersections to the north. The Upper T5 conductor zone is open up to the north and down to the south.
Step-out drilling currently being planned will see a series of RC pre-collars placed on two sections, one north and another south, to follow the plunge directions of both the Upper and Lower T5 conductors. The pre-collars will result in a substantial drop in drill costs and drill time, allowing the Company to explore these areas in a cost-effective manner.
In order to angle the pre-collars correctly, deviation of these percussion holes will be ascertained by drilling a series of RC holes above the T5 conductor into an area of the basal contact that has not had any historical drilling.
This area lies some 80m to the west due to the off-set created by “Flat Fault”. These holes will serve the dual purpose of testing above the current T5 intersections as well as giving the Company the predictive knowledge on drillhole deviation necessary to target T5 at depth with well positioned diamond tails
T5 keeps delivering substantial nickel, copper and other economically important battery metals in our exploratory drilling,” Mr Daws said.
“It’s important to note that we are only just scratching the surface of what looks to be a highly mineralised contact at Carr Boyd and that we have much, much more targeted drilling to go before we will know exactly what we are dealing with but from all accounts this has got to be one of Australia’s stand out nickel exploration opportunities.
“It is ticking all the right boxes for our expert nickel team. The outlook for the nickel market is extremely favourable currently and any new nickel discovery will be highly prized for those that are lucky enough to find one. I look forward to discussing our exploration efforts over the next few days in Kalgoorlie and in the weeks ahead as we progress our efforts to unlock a World Class, high quality, nickel sulphide resource.”