NickelSearch Reveals Promising Copper-Gold Results at Mt Isa North
NIS (NIS) Share Update September 2024 Monday 30th
NickelSearch Unveils High-Grade Copper-Gold Results at Mt Isa North
NickelSearch Ltd (ASX: NIS) has announced impressive results from its initial exploration at the recently acquired Mt Isa North Project, revealing high-grade copper, gold, and silver samples.
Instant Summary:
- Exceptional grades of up to 30.0% Cu, 1.23g/t Au, and 64.7g/t Ag in grab samples.
- Reconnaissance exploration commenced, with geologists preparing for a maiden drilling campaign.
- 1,500m reverse circulation (RC) drilling campaign planned for Q4-CY24 at Surprise Prospect.
- Newly identified Moonside prospect shows promising results with 30.0% Cu and 64.7g/t Ag.
Exploration Commences at Mt Isa North
NickelSearch Ltd (ASX: NIS) has launched its reconnaissance exploration at the Mt Isa North Project, marking a significant milestone following its recent acquisition. Geologists are on-site, preparing for an ambitious maiden drilling campaign aimed at uncovering the full potential of this promising site.
Exceptional Sample Results
During a due diligence site visit, NickelSearch collected and assayed rock chip and grab samples that returned exceptional grades. At the Surprise Prospect, samples revealed 24.8% Cu and 1.23g/t Au (CSR002) and 11.3% Cu and 0.21g/t Au (CSR001). Meanwhile, the Moonside prospect, a newly identified and undrilled area, showed remarkable results with 30.0% Cu and 64.7g/t Ag (CCR001B) and 3.12% Cu and 6g/t Ag (CCR001A).
Historical Validation and Future Plans
The high-grade results at Surprise Prospect validate previous findings, such as 36.8% Cu and 0.38g/t Au (CMRK005) and 28.7% Cu and 0.15g/t Au (CMRK004). NickelSearch is targeting a 1,500m reverse circulation (RC) drilling campaign at Surprise in Q4-CY24 to further validate and extend existing mineralisation. The company aims to confirm historical drilling results, including 23.8m @ 4.67% Cu from 51.2m and 12.8m @ 7.77% Cu from 62.2m (SH30).
New Prospects and Future Exploration
Additional rock chips collected from the newly identified Moonside target, located southwest of the tenement package, have shown no modern exploration. NickelSearch plans to undertake broader sampling and mapping to determine the next steps for this promising area. The company remains well-funded for initial drilling, with an underwritten Entitlements Offer closing on Monday, 7 October 2024.
The high-grade results from the Mt Isa North Project are likely to boost investor confidence in NickelSearch Ltd. The announcement of a well-funded drilling campaign and the identification of new targets could positively impact the company's stock price. The validation of historical data and the discovery of new high-grade areas suggest significant potential for future resource expansion.
Investor Reaction:
Analysts are expected to react positively to the high-grade sample results and the company's strategic plans for further exploration. The announcement demonstrates NickelSearch's commitment to unlocking the value of the Mt Isa North Project, which could lead to increased investor interest and potential stock price appreciation.
Conclusion:
Investors should keep an eye on NickelSearch's upcoming drilling campaign and further exploration results. The company's proactive approach and promising initial findings position it well for future growth. Stay informed on NickelSearch's progress and consider the potential long-term benefits of this exciting project.