At the Carr Boyd Project. Source: Estrella Resources
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  • During the March quarter, Estrella Resources (ESR) focused on exploration work at the Carr Boyd project in Kalgoorlie, WA
  • The company intersected two broad zones of massive and semi-massive nickel-copper sulphides which confirmed sulphides continue into the unmined areas
  • A downhole electromagnetic survey also extended the potential of a new mineralised zone below the T5 discovery with follow up exploration planned
  • Estrella ended the quarter with $3.2 million in cash and an estimated 1.7 quarters left of available funding
  • ESR shares are trading down 4 per cent at 2.4 cents

During the March quarter, Estrella Resources (ESR) focused its efforts on progressing the Carr Boyd project in Kalgoorlie, Western Australia.

The company received assays from a diamond drilling program including one hole (CBDD064) which intersected two broad zones of massive and semi-massive nickel-copper sulphides below the Carr Boyd workings.

The intersection confirmed that nickel-copper sulphides continue into the unmined areas and coincides with a downhole electromagnetic (DHEM) response modelled from a separate drill hole.

Estrella also received results from the DHEM surveying of CBDD060 and CBDD062 in defining a potential new zone of mineralisation found below the T5 discovery. Positively, the results confirmed the continuation of mineralisation potential to the north.

The current modelled DHEM plates extend over 165 metres of strike and it is a further 50 metres south to the massive sulphide breccia intersection in CBDD042A.

The company is planning to drill several more step-out holes to the north and south of the T5 discovery to further test the continuation of mineralisation up-dip and down plunge.

Drilling will also test the new DHEM plates generated by CBDD060 and CBDD062 and the southern drilling will target the continuation of the T5 massive sulphide mineralisation towards the Proterozoic Dyke.

Estrella Resources also completed a reverse circulation drilling program which aimed to confirm the fertility of the basal contact pyroxenites that were mapped last year.

Roughly 12 kilometres of ‘fertile basal contact’ has been identified to date which comprises the Mossgiel, T5-Broonhill and Gossan Hill prospects.

While ESR is yet to receive assays, early indications have shown all prospects contain semi-massive to disseminated nickel-copper sulphides.

Further drilling is planned with a second diamond rig expected on site shortly to assist in completing a series of exploration holes between T5 and Broonhill while the current drill rig completes a program at Mossgiel.

Over at the Spargoville nickel project, Estrella is planning a drilling program to define extensions to known nickel sulphide deposits. All approvals are in place and drilling is expected to begin during the current quarter.

In terms of expenditure, $285,000 was spent on staff and admin costs during the three-month period, and $1.6 million on exploration and evaluation.

The company ended the quarter with $3.2 million in cash and an estimated 1.7 quarters left of available funding.

ESR shares were trading down 4 per cent at 2.4 cents each at 10:45 am AEST.

ESR by the numbers
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