Golden Mile Resources Encounters Further Nickel Cobalt at Quicksilver

THE DRILL SERGEANT: Golden Mile Resources (ASX: G88) reported an encounter with oxide nickel and cobalt mineralisation via recent reverse circulation (RC) drilling at the company’s 100 per cent-owned Quicksilver nickel-cobalt deposit in Western Australia.

Golden Mile Resources recently completed seven exploration RC drill holes, from which it has gained a better understanding of the potential source of nickel beneath the project’s existing nickel-cobalt oxide Resource.

Highlights of the drilling include:

17 metres at 0.81 per cent nickel from 46m depth and 21m at 0.89 per cent nickel from 78m depth, including 2m at 2.03 per cent nickel from 80m depth 6m at 1.16 per cent nickel from 85m depth and 2m at 1.1 per cent nickel from 94m depth;

24m at 0.81 per cent nickel from 60m depth, including 11m at 1.02 per cent nickel from 68m depth and 13m at 0.105 per cent cobalt from 60m depth, including 6m at 0.142 per cent cobalt from 62m depth;

10m at 1.23 per cent nickel from 96m depth and 8m at 0.07 per cent cobalt from 97m depth, including 3m at 0.104 per cent cobalt from 98m depth;

21m at 0.063 per cent cobalt from 31m, including 2m at 0.139 per cent cobalt from 35m depth and 1m at 0.153 per cent cobalt from 47m depth; and

8m at 0.167 per cent cobalt from 19m depth, including intercepts up to 0.679 per cent cobalt.

“These results add further confidence in the potential for Quicksilver as a growing nickel Resource, utilising the existing oxide resources but also potentially primary nickel mineralisation within a fertile ultramafic protolith,” Golden Mile Resources managing director Damon Dormer said in the company’s ASX announcement.

“The ongoing analysis of the significant data collected to date reinforces the potential of high-grade zones which would add further value uplift from these metallurgical opportunities.”

Golden Mile has begun planning and designing an orientation drill program to confirm the positioning of the high-grade nickel seams within the deposit, which it explained is the first step of a staged scoping study.

Timings of the study program will be released upon confirmation of the drill program schedule, enabling the company to design an optimal infill drill program, ensuring the most comprehensive data set is obtained for updating the Resource, and developing a conceptual mine design and economic evaluation.