Oro Verde (ASX:OVL) set to start a scoping study at Makuutu Project, Uganda
  • Estrella Resources (ESR) has been granted a new exploration licence to add to its Carr Boyd Nickel Project portfolio
  • This has extended the company's total owned project area to just under 26,000 hectares
  • Historic exploration and a drilling program from last year uncovered nickel-copper sulphide mineralisation
  • The company plans to further explore this target opportunity in the near future
  • Estrella Resources remains flat on the market with shares trading for 0.9 cents each

Estrella Resources (ESR) has added a new exploration licence to its Carr Boyd Nickel Project (CBNP) portfolio.

The CBNP includes the Carr Boyd Layered Complex (CBLC), which hosts the historic Carr Boyd Rocks nickel mine. Between 1970 and 1977, this mine produced 202,110 tonnes of ore at an average grade of 1.43 per cent nickel and 0.46 per cent copper.

The company applied for the exploration licence in May 2019 and received it recently on January 28. This brings Estrella's total owned area at the CBNP to 25,902 hectares.

"The addition of this tenement underpins Estrella’s commitment to the CBNP and extends the company’s potential to explore for nickel sulphides within the fertile host rocks," CEO Chris Daws said.

The tenure portfolio is centred around the CBLC which is a 75 square-kilometre layered mafic igneous complex that hosts nickel and copper sulphides.

The most significant occurrence discovered so far is at the nickel mine, where mineralisation is hosted by bronzitite breccias.

The CLBC intrusion is within the surrounding Archaean Volcano-Sedimentary Greenstone Belts which hold several komatiite-hosted nickel mines within the Kalgoorlie District.

Estrella has been exploring the project since late 2017. Last year, it discovered new nickel-copper sulphide mineralisation at its T5 target which lies one kilometre north-northwest of the Carr Boyd Mine.

Assay results from this discovery include: 8 metres at 1.11 per cent nickel and 0.36 per cent copper, and 1 metre at 0.61 per cent nickel and 0.57 per cent copper.

Estrella Resources remains flat on the market with shares trading for 0.9 cents each at market close.


ESR by the numbers
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