NickelX Limited (ASX:NKL) has been awarded an Exploration Incentive Scheme (EIS) grant of up to A$180,000 by the WA Government, in support of four diamond drill holes at the company’s 100% owned Biranup Gold Project, located in the world class Albany Fraser Oregen, WA.
The Black Dragon and Red Dragon gold targets, within the Biranup Gold Project, are located ~30km NE of the Tier 1 Tropicana gold operations and ~35km SW of the emerging Hercules gold discovery, that is spatially coincident with the Black Dragon shear zone, as well as a >250km-structural feature in gravity data that also passes through Tropicana.
Black Dragon is marked by an area of sub-cropping basement surrounded and elsewhere covered by colluvium and wind-blow sand. Gold mineralisation at Black Dragon is associated with quartz veining, hematite breccia, iron-rich sheared basement schist and gneiss and sericite-altered granite with disseminated pyrite. Individual veins are 0.3 to 5.0m-wide and can be traced at surface for 10 to 30m along strike.
Multiple mineralised veins have been recorded, dominantly striking ENE-WSW and N-S. Their dips are unknown. The limited historical drilling has thus far failed to explain the surface gold- silver-tellurium anomalism or provide information about the orientation, structural controls on, genesis, or source for the mineralisation.
The company’s planned holes at the Black Dragon Target will test a coincident IP resistivity and surface geochemical anomaly over an area of 10km × 3km. No diamond drilling has ever been completed in this area.
Managing Director Matt Gauci said NickelX’s planned drill holes at the Red Dragon Target will test the down-dip extension of known gold mineralised shear zone that dips gently to the south-east. Historical drilling stopped too short to intersect significant mineralisation.
The Black Dragon and Red Dragon Gold targets represent compelling gold exploration targets with significant historic results, while the company’s ongoing review of the Biranup Project has identified very underexplored high priority gold targets, resulting in this successful EIS Drilling Grant, located only ~30km NE of the Tier 1 Tropicana gold operations,” Mr Gauci said.
“Now having prioritised the targets in support of this EIS Drilling Grant, the Company is organising an IP Survey, Aircore, RC and Diamond drilling programme in due course, and following the Company’s current Exploration Programs at the priority Cosmos South Nickel Project and Dalwallinu Nickel Project.”
