- DevEx Resources (DEV) completes the first two stratigraphic diamond drill holes at the Sovereign Project in Western Australia’s Julimar Province
- Within hole two, visual observations of the drill core indicate there are several zones of scattered copper-nickel sulphide mineralisation
- This initial outcome of this drilling has exceeded DevEx’s expectations
- The diamond drill holes are now being logged with sampling of the core underway
- On the market this morning, DevEx is up 6.43 per cent and trading at 37.35 cents per share
DevEx Resources (DEV) has completed the first two stratigraphic diamond drill holes at the Sovereign Project in Western Australia’s Julimar Province.
The two holes were designed to test the central portion of the Sovereign mafic-ultramafic intrusion, providing information on the geometry and geology of the intrusion.
This initial outcome of this drilling has exceeded DevEx’s expectations, with the drilling encountering a thick intrusive sequence of metamorphosed gabbronorite, norite and ultramafic rocks
Within hole two, visual observations of the drill core indicate there are several zones of disseminated (low grade) copper-nickel sulphide mineralisation.
Additionally, hole two has also drilled through the intrusion into garnet-bearing mafic volcanic/sedimentary country rocks. Copper sulphides are common in these country rocks.
Managing Director, Brendan Bradley, said DevEx is slowly ticking all the boxes in “what we all hope is a game-changing discovery at Sovereign”.
“The outcomes of these two widely-spaced stratigraphic holes have exceeded our
expectations and given us confidence that we are very much on the right track with our exploration approach,” he said.
“In addition to confirming the presence of the right intrusive host sequence over significant widths, we have intersected nickel-copper sulphide mineralisation in hole two – which is a remarkable result for what was essentially stratigraphic drilling to understand the framework of just a small part of the intrusion.”
The diamond drill holes are now being logged, with sampling of the core underway.
On top of this, DevEx will also commence an electromagnetic survey, which is designed to cover the majority of the 12-kilometre long intrusion over the coming months.
On the market this morning, DevEx was up 6.43 per cent and is trading at 37.35 cents per share at 10:26 am AEDT.