High Grade Metals gained today on news early geological modelling around the Nockelberg prospect within its Leogang project in Austria has uncovered multiple cobalt-nickel-copper target bodies.
The results suggest two cobalt‐nickel-copper target bodies for the upcoming drilling program and that only a modest area was accessed by historic mining.
The project team has hit the ground running, working through soil geochemical data, waste dump testing and establishing targets for a drilling program.
“Since re-listing on the ASX, the company has assembled in country teams and undertaken significant work in preparation for the upcoming drilling programs in Austria,” High Grade Metals CEO Torey Marshall said.
3D modelling is an essential part of our initial work at both Leogang and Schellgaden, as it gives us extremely useful information for planning our program and understanding the potential size and orientation of the systems targeted in these exploration areas.”
The Leogang project is located approximately 3 km west of Leogang (population circa 3,200) and 11 km west of Saalfelden (population 16,000) in the District of Zell am See, Federal State of Salzburg.
The Leogang Exploration Area covers a total area of approximately 12 km2, including the historical Nockelberg and Leogang mine sites.
Nickel and cobalt were mined in the region from the 16th century when Leogang was famed for the diversity of its mineralogy and rich ore grades. At various times in its past, cobalt, nickel, copper and silver have been mined at Leogang.
Shares in High Grade Metals gained as much as 11%, or 0.6c, to hit an intraday high of 6c.
