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Dynamic Metals Limited (ASX:DYM) (“Dynamic” or “the Company”), a newly listed ASX lithium, nickel and gold explorer, is pleased to announce assay results from its first drill program at the Dordie Far West (“DFW”) nickel prospect, part of the larger Widgiemooltha Project (“Widgiemooltha” or the “Project”) in the Goldfields Region of Western Australia.
HIGHLIGHTS
- Five RC holes were drilled to test Kambalda nickel ore deposit model at Dordie Far West (DFW), part of the Widgiemooltha Project
- Three holes returned significant nickel results from first pass 3m composite RC samples, including:
- WDR002 15m @ 1.86% Ni from 27m downhole, incl. 6m @ 2.4% Ni
- WDR003 15m @ 1.11% Ni from 30m downhole
- WRD003 12m @ 1.58% Ni from 48m downhole, incl. 3m @ 2.0% Ni
- WDR005 3m @ 1.38% Ni from 30m downhole
- Detailed geochemical analysis on 1m split samples will be undertaken to confirm the nickel mineralisation model and determine follow up drill program
- Dynamic fully funded for exploration across its critical minerals portfolio following completion of $7M IPO in January 2023
DFW is located on the northwest margin of the Widgiemooltha dome on E15/1680, where anomalous nickel results were detected in RC drilling completed by Mincor Resources Limited (ASX:MCR) in the late 2000s (Figure 1)1.2. After review of the historic data, a drill program was designed to test for Kambalda komatiite type massive sulphide mineralisation interpreted to occur where the base of the komatiite stratigraphy is in contact with the underlying basalt, known as the ‘basal contact’.
Five Reverse Circulation (RC) holes were drilled for a total of 736m at the prospect in February 2023, with drilling undertaken on four sections over a strike length of approximately 300m (Figure 1). Drill hole collar positions and significant drill hole results from 3m composite RC samples are shown in Figure 1: and Table 1.
Importantly, the thick widths and high-grade tenor intersected in Dynamic’s drilling compare favourably with the historic drilling, confirming and enhancing the potential for significant mineralisation along this trend.
Figure 1: Drill hole positions and significant results at Dordie Far West
Table 1: Significant Nickel intercepts from 3m composite samples (cutoff 3m >1%Ni)
The grade and thickness of the 3m composite samples from WDR002 and WDR003 are significant and whilst the results are returned from within the weathered profile (rather than fresh rock), the >1% Ni limit plotted on both sections
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Drilling Commenced at Viani in Fiji
HIGHLIGHTS
- The Phase 1, three-hole diamond drilling program has commenced at the Viani Project, Fiji and will test for extensions to the quartz vein gold mineralisation at depth.
- Phase 1 is expected to be completed in early 2025, with plans for additional drilling under the same program dependent on the initial results
- The Viani Project (SPL1513) covers an area of approximately 200km2 and is largely underexplored.
- At the Dakuniba prospect within Viani, low sulphidation epithermal high-grade gold mineralisation has been mapped over >3km strike length.
- Diamond drilling completed by Japan International Cooperation Agency (JICA) in 1995 to 1997 intersected high-grade gold in low sulphidation epithermal quartz veins, including 0.6m @ 27.6 g/t Au.
Alice Queen’s Managing Director, Andrew Buxton said,
With drilling underway, Alice Queen is positioned to test the epithermal gold-style mineralisation identified in historic drilling at the Viani Project. Weather permitting, we anticipate completing the Phase 1, three-hole diamond drilling program in early 2025. Following this, our exploration team will mobilise the drill rig to the Sabeto Project in Fiji to maintain the momentum of this campaign. To deliver timely results to shareholders, we intend to accelerate the analysis of the drill core at ALS Brisbane.”
Image 1 – Diamond drilling at Viani
Details
Geology
The geology of the Viani Project (SPL 1513) comprises olivine basalts and volcaniclastics of the Natewa Volcanic Group which are intruded by andesite sills and dykes. In the 1940s, gold mineralisation was found by local prospectors near the village of Dakuniba. At Dakuniba, low sulphidation style epithermal gold occurs in quartz veins, and silicified rocks along a 3km long NE trending zone.
In 1995-1997, Japan International Cooperation Agency (JICA) drilled six diamond holes at Dakuniba and intersected high-grade gold in chalcedonic, crustiform, colloform banded quartz veins at depths of 50m to 100m below surface (i.e. MJVFV-5 intersected 2.2m @ 11.3 g/t Au, incl 0.6m @ 27.6 g/t Au at 121m downhole). This high-grade gold mineralisation is open in all directions.
Proposed Drill program
The initial Phase 1 drill program at Viani (see Table 1) will comprise three diamond drillholes designed to test continuity to the epithermal gold mineralisation previously intersected in JICA drillhole MJVFV- 5 (2.2m @ 11.3 g/t Au) (see Figure 2). The drilling will test for extensions to the gold mineralisation at depth and along strike.
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This article includes content from Alice Queen Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
