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Neometals Ltd.
Summary
| Project: | Mt Edwards | |
|---|---|---|
| Deposit: | Widgie South Trend | |
| Location: | Australia | |
| Commodities: | Nickel-Copper-Arsenic | |
| Date: | 12/11/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 11-12-2019: Neometals Ltd. announces an Exploration/Drilling Update report for its Widgie South Trend deposit at the Mt Edwards project. Drilling results incl. 16m @ 1.45% Ni, 2318ppm Cu, 393ppm As from 206m. Neometals Ltd (ASX: NMT) (“Neometals” or “the | |
| Resources: | (Resource, I+I): 3.77Mt @ 1.8% Ni at Widgie South Trend | |
| CP/QP: | [Overall Report]: Gregory Hudson (Internal) | |
| ABSTRACT: | Neometals Ltd (ASX: NMT) (“Neometals” or “the Company”) is pleased to announce encouraging assay results from reverse circulation (“RC”) drilling at the Mt Edwards nickel project. Drilling, sampling and down-hole electromagnetic (“DHEM”) surveys were conducted acrossthe Widgie 3 and Gillett deposits and the Widgie 3 North, Rhona and Widgie 3 South prospects. These deposits and prospects (including Widgie Townsite) are collectively known as the “Widgie South Trend” and are located on Mining Lease M15/94 south ofthe community of Widgiemooltha. In addition, further drilling was carried out at the Lake Eaton prospect on Exploration Licence E15/989. The Gillett deposit was only ‘discovered’ late in 2006, and shortly after, the global financial crisis of 2008 curtailed the previous owners from undertaking drill definition that would typically be carried out to confirm the deposit’s mineralised extents. Neometals’ drilling at Widgie South Trend and Lake Eaton comprised 15 RC holes for a total of 2,749 metres and included a sampling and assay program with rigid QAQC controls that will enable results to be used in potential future Mineral Resource estimations. Assay results support the interpretation of thick disseminated nickel sulphide intercepts (up to 21 metres downhole width) with smaller high-grade zones of matrix, semi-massive to massive nickel sulphide. The results also confirm strike extension of nickel mineralisation at Gillett, both to the North (~110 metres) and to the South (~275 metres), supporting at least a 50% increase in known strike length beyond the current Gillett Mineral Resource. | |
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