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- Desert Metals’ (DM1) share price is in the green after seeing encouraging results from the first two holes of its 13-hole drilling program at the Innouendy prospect within The Narryer Project in WA
- The company has intersected magmatic sulphides in the first two targets
- After testing both plates at Innouendy, the drill rig will move 20 kilometres south to test the four conductive plates at Irrida Hill
- On the market this afternoon, Desert is up 16 per cent and is trading at 58 cents per share
Desert Metals’ (DM1) share price is in the green after seeing encouraging results from the first two holes of its 13-hole drilling program at the Innouendy prospect within The Narryer Project in WA.
The nickel and copper explorer have intersected magmatic sulphides in the first two targets.
Managing Director Dr Rob Stuart says these early results are very encouraging.
“Several years ago the company staked ground on the hypothesis that the Narryer Terrane was prospective for intrusive Ni-Cu-PGE deposits. The intersection of magmatic massive sulphides in intrusive rocks validates the exploration model and the company’s methodology,” he said.
“While we are, of course, awaiting assays, these results have us excited about the
potential for the rest of the winter work program, our drilling campaign and the Narryer Terrane in general,” he added.
The two holes were designed to intersect the eastern area of two conductive plates at Innouendy and one of the six plates being targeted overall by the initial drilling campaign at Innouendy and Irrida Hill.
After testing both plates at Innouendy, the drill rig will move 20 kilometres south to test the four conductive plates at Irrida Hill.
Additionally, a ground electromagnetic crew will be arriving on site next week to follow up on six to 12 anomalies identified from the airborne survey flown in February.
On the market this afternoon, Desert is up 16 per cent and is trading at 58 cents per share at 2:57 pm AEST.
