Join our daily newsletter At The Bell to receive exclusive market insights
- Estrella Resources (ESR) receives assays from the first eight holes drilled at the T5 prospect which is part of its Carr Boyd Project in Western Australia
- Grades have peaked at 2.08 per cent nickel, 0.63 per cent copper, 2.78g/t silver and 1.13g/t platinum and palladium
- According to Estrella, these results confirm its interpretation of the massive sulphides within the Upper T5 Conductor Zone along the basal contact
- This drilling is part of a phase three program which will continue to step out along the T5 Conductor
- Company shares are down 4 per cent and were trading at 4.8 cents at 10:13 am AEST
Estrella Resources (ESR) has received assays from the first eight holes drilled at the T5 prospect which is part of its Carr Boyd Project in Western Australia.
According to the company, these results confirmed its interpretation of the massive sulphides, geology, flow direction and grade distribution within the Upper T5 Conductor Zone along the basal contact.
In particular, three diamond holes showed higher-grade massive and breccia sulphides on the basal contact with only a thin zone of lower-grade material.
Results include 13.4 metres at 1.3 per cent nickel and 0.4 per cent copper including 6.26 metres at 2.08 per cent nickel and 0.63 per cent copper, 2.78 grams of silver per tonne (g/t), 0.67g/t platinum and palladium; and 25.32 metres at 0.8 per cent nickel and 0.6 per cent copper including 4.96 metres at 1.15 per cent nickel and 0.71 per cent copper, 2.45g/t silver, 1.13g/t platinum and palladium.
Managing Director Chris Daws was encouraged by these results.
“To have received some of the best results yet from our highly prospective Carr Boyd nickel-copper project is very encouraging,” Mr Daws said.
“The results are particularly pleasing as it not only confirms our geological modelling of the Carr Boyd intrusive complex but it also demonstrates that the contact zone has the potential to bear high-grade results.”
This drilling is part of a phase three program which will continue to step out along the T5 Conductor Zone. Assays remain pending from four recently completed holes.
Company shares were down 4 per cent and were trading at 4.8 cents at 10:13 am AEST.
