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Estrella Resources Ltd.
Summary
| Project: | Spargoville | |
|---|---|---|
| Deposit: | Spargoville | |
| Location: | Australia | |
| Commodities: | Nickel-Copper-Cobalt-Palladium-Platinum | |
| Date: | 12/6/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 6-12-2018: Estrella Resources Ltd. announces an Exploration/Drilling Update report for its Spargoville deposit at the Spargoville project. Drilling results incl. 15m @ 10.45% Ni, 0.78% Cu, 0.20% Co, 0.87g/t Pd, 1.15g/t Pt from 20.0m. Estrella Resources Li | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Luke Marshall (Independent) | |
| ABSTRACT: | Estrella Resources Limited (ASX: ESR) (Estrella or the Company) is pleased to provide shareholders with an update on exploration activities for the Spargoville nickel project located approximately 30 km south west of Kambalda, Western Australia. The Company has completed its maiden drilling program at Spargoville, targeting high grade nickel mineralisation directly beneath the 5A open pit and an EM target, M15/96-C1, between the 5A and 5B mines. The Spargoville project was acquired by Estrella via the purchase of WA Nickel Pty Ltd (se ASX release 4 September 2017). The Spargoville project area was first discovered by Selcast Exploration in the late 1960s. Since then 1A, 5A, 5B, and 5D deposits have been discovered and developed. All these mines have remnant mineralisation left behind. The mines and the surrounding areas provide the Company with many exploration targets to follow-up considering advances in modern geophysical exploration and metallurgical processing methods. These will be aggressively pursued. Estrella - Chief Executive Officer, Mr Daws said “These nickel results are some of the best nickel sulphide intercepts that I have seen in my 14 years exploring nickel sulphide orebodies in Western Australia. The outlook for nickel is bullish with the forecast of large supply deficits and the need to provide quality nickel stocks to the EV / battery storage manufacturing industries. The current market soundings remind me a lot of the early stages of the nickel boom of 2007 and I certainly look forward to what the future has installed for our shareholders”. | |
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