KEY POINTS
- The focus of the quarter’s activities
- Completion Phase 1 – 2023 R/C campaign. 16,843 metres drilled across nine targets – commenced in February 2023
- Interpretation of drilling results, lithology and geochemistry
- Processing of Heli-EM VTEM surveys and follow-up ground-based Moving Loop electromagnetic MLEM surveys on the high-priority nickel sulphide targets
- Successful EIS application at Mons Carbonatite Prospect – 1,000m diamond hole planned
- R/C drilling intersects pegmatite below lithium soil anomalies, assays identify LCT geochemistry
- Hyperspectral surveys indicate numerous prospective LCT corridors and high-priority targets
- Surface geochemical sampling continued using Labwest UltrafineTM technology identifying strong anomalies, including nickel, lithium and rare earth targets
- Planning and approvals for Phase 2 of the 2023 exploration campaign, submission of POWS and heritage have commenced
- Phase 2 expected to commence by end of current quarter
- Cash at bank of $0.621M as of 30 June 2023
Summary – Phase 1 – 2023 R/C Drill Campaign targets
- Carbonatite prospect (REE and Li) – 1,712m
- East Prospect (Ni in soil anomaly) – 2,148m
- King Hill Prospect & 140 Line – (Ni,Cu anomaly) – 2,332m
- Indian Sandrunner (Ni Sulphide via EM plate) – 3,605m
- Dease Prospect (Ni Sulphide via 3 X EM plates) – 1,740m
- North Lake Prospect (Ni Sulphide via EM plate) – 7,20m
- Royale Prospect (Li & Ni Sulphide – 1,920m
- South Lake Prospect – (Li Anomaly) – 2,676m
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This announcement has been approved for release by the Board.