Estrella Resources Limited (ASX: ESR) has unveiled a number of new targets with a Carr Boyd exploration review which incorporates all data generated to date from the company’s partnership with the CSIRO and an innovative seismic programme.
The study has identified that the Carr Boyd system has exhibited many different magma pulses with potentially multiple sulphur-saturation events, providing opportunities to further unlock massive nickel sulphides.
Following the review, Estrella has been able to identify 30 targets within the system, 15 of which have known Ni-Cu-PGE intersections and an additional 15 (which are closely related to the internal contacts) that have the right geology but have not been drill tested. These targets are located on the nine internal and external basal contacts,
The top targets related to the numbering above include the Carr Boyd Mine pyroxenites (six), Mossgiel base (one), the Mossgiel top (five) which coincides with mineralisation at Tregurtha, the Broonhill dyke feeder, Gossan Hill (one), Frenchman’s Hill (two) and the Porphyry Hill gold workings where Great Boulder’s Whitehead’s Shear Trend coincides with a linear internal basal contact at Carr Boyd (8+9).
Notably, the 16km Colreavy Komatiite (4) has also been identified as a top tier priority. The Colreavy contact overlies a felsic sediment which also contains sulphur. The nickel target lies fully within Estrella’s ground but has not been extensively tested and has received little to no modern exploration.
We have accomplished an incredible amount of high-quality work over the last couple of years at Carr Boyd and I remain very excited about the potential within our tenements,” Managing Director Chris Daws said.
“The recent review combined the many different studies conducted by nickel experts from the CSIRO with all the seismic, geological and drill data acquired by Estrella and previous explorers into a coherent geological model that enables a much deeper understanding of the igneous complex and its surrounds. I’d like to thank the many scientific and technical experts that have worked with us over the last two years.
“Estrella has already encountered massive nickel sulphides in the Carr Boyd area and with an advanced model we now have a host of other exciting targets which are capable of producing results. I feel we are a lot closer to unlocking the massive opportunity our ground offers for additional economic mineral discoveries.”
The Company recently released an Exploration Target just for the basal contact of between 35,000 and 105,000 tonnes of Ni metal (refer to ASX Announcement dated 20th September 2022). It is envisaged that this will be amended to include these additional internal contacts as exploration begins to test these areas in the future and acquires study data from drilling. The Industry PhD program run by the University of Western Australia with support by the CSIRO will significantly enhance Estrella’s ability to evaluate these new areas in a timely manner so as to maximise the coverage of our exploration dollars. The work conducted will continue the studies on mineral geochemistry and emplacement timing on each new prospect to ensure we are targeting the same internal horizons that are proven to be mineralised elsewhere, such as the Carr Boyd pyroxenite whilst evaluating the extend of newly defined internal horizons with known mineralisation.
Given the substantial size of the prospective areas now being targeted within the Carr Boyd complex and the Company’s ongoing focus on bringing the near-term Spargoville nickel project into production, Estrella is actively engaging with potential partners to maintain aggressive exploration across the tenement package over the next three to four years. Estrella will continue to keep shareholders informed of any substantial developments relating to the Carr Boyd project.
