NickelX Limited (ASX:NKL) has successfully completed geophysical data re-processing and defined high priority nickel targets at the Cosmos South Nickel project which is located 10km south of the world-class, high-grade Cosmos nickel operations and 20km North of the world class large scale Leinster nickel operations (ASX:BHP), within the prolific Wiluna Greenstone Belt (WGB).
Managing Director Matt Gauci said surface EM data re-processing over the Cosmos South Project has successfully defined a large, highly conductive feature (CS1), modelled at less than 100m from surface. The modelled plate from both MLEM and FLEM data is coincident with magnetic lineaments observed from regional aeromagnetic data over the project location. The EM data suggests the conductor may extend south beyond the limits of the MLEM data coverage.
Cosmos South represents a very strong nickel target ideally located in a world-class nickel producing belt dominated by BHP and now IGO. The recently completed geophysical data re-processing has successfully defined a near surface, large, highly conductive feature with the company now progressing shareholder approval, magnetic surveys and drilling contracts to progress this target,” Mr Gauci said.
Cosmos South Nickel Project Summary
Cosmos South M36/580 is situated within the highly nickel-endowed region of the Agnew- Wiluna Greenstone belt. The belt hosts world class nickel deposits of the Leinster nickel operations, Mt Keith, Yakabindie, Honeymoon Well and Cosmos.
Despite being surrounded by major nickel miners, M36/580 has undergone very limited exploration to date. The areas of outcropping-subcropping bedrock to the south and north of M36/580, on the other hand, have undergone considerable exploration resulting in the discovery of nickel mineralisation to the immediate south at the Taurus, Sir Samuel and Sir Tristram prospects. M36/580 is almost entirely covered by transported alluvial deposits and no systematic drilling has been undertaken on the tenure.
Contingent upon shareholder approval, NickelX plan to conduct a detailed drone airborne magnetic survey over the entire tenement. This survey will help to better delineate the magnetic strata interpreted to represent continuations of the ultramafic komatiite lithologies that host nickel mineralisation to north and south of M36/580. This information will be critical for drill hole planning, targeting the most promising parts of the interpreted conductor/ultramafic package.
A maiden drill programme consisting of four diamond drill holes is expected to commence in the March Quarter 2022.
