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Estrella Resources (ASX:ESR) - Managing Director & CEO, Chris Daws - The Market Herald
Managing Director & CEO, Chris Daws
Source: 6PR
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  • Estrella Resources (ESR) has hit more nickel-copper sulphides as it continues drilling at the Carr Boyd Project, north of Kalgoorlie in WA
  • The assays for the most recent drilling campaign haven't come back yet, but visual inspection indicates a 25.7-metre zone of nickel-copper sulphides
  • This drilling is following up on the discovery hole at the T5 prospect, which intersected a zone of massive nickel-copper sulphide mineralisation
  • The new sulphide zone sits more or less where it was expected to be, confirming Estrella's geological modelling
  • The company will continue with the accelerated drilling program, with two diamond core rigs onsite drilling 40 metres apart at the T5 Discovery Zone
  • Estrella Resources is up 16.67 per cent to 14 cents

Estrella Resources (ESR) has hit more nickel-copper sulphides as it continues drilling at the Carr Boyd Project north of Kalgoorlie in WA.

Discovery widens

The assays for the most recent drilling haven't come back yet, but visual inspection indicates a 25.7-metre zone of nickel-copper sulphides.

This drilling follows up on the discovery hole at the T5 prospect, which intersected a zone of massive nickel-copper sulphide mineralisation.

The discovery hole yielded a best intercept of 2.5 metres at 3.66 per cent nickel, 0.46 per cent copper, 0.16 per cent cobalt, 2.09 grams per tonne (g/t) silver and 0.78g/t gold, platinum and palladium, with 2.98 per cent manganese oxide.

That intercept came from a sulphide zone 13.9 metres thick.

In both cases, the sulphides were found at the border of an intrusion into the Carr Boyd Layered Complex (CBLC), at depths between 370 and 430 metres.

The new hole was drilled around 25 metres north of the discovery hole and was angled back in the direction of the first hole.

The aim was to intersect the contact zone between the intrusion and the CBLC above the discovery intersection.

The new sulphide zone sits more or less where it was expected to be, confirming Estrella's geological modelling.

Estrella Resources MD and CEO Chris Daws says the company will accelerate drilling to uncover more potential at Carr Boyd.

"Our team has again delivered another significant drill hole confirming the extensive downhole transient electromagnetic (DHTEM) plate surrounding our initial discovery hole hosts substantial nickel sulphide mineralisation," Chris said.

"We are moving fast to see what further mineralisation exists at T5, with two diamond rigs drilling 24/7 into the defined DHTEM plate, I expect from here we will continue to see more significant results," he continued.

"I am extremely pleased with what has thus far been achieved and I look forward in the days, weeks ahead as the drill bits keep turning on what has been a remarkable program to date," the MD added.

Next steps

The company will continue with the accelerated drilling program, with two diamond core rigs onsite drilling 40 metres apart at the T5 Discovery Zone.

Estrella's geologists are mapping the sulphide zone and planning further step-out drilling.

A DHTEM crew are also currently on site surveying the completed holes.

Results of the survey will assist the geological team to modify the drill hole targeting for the next round of exploration.

The team is looking for the deeper primary source of the remobilised nickel-copper sulphides discovered to date.

Estrella Resources is up 16.67 per cent to 14 cents at 10:18 am AEDT.

ESR by the numbers
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