- Mandrake Resources (MAN) gets encouraging results from three holes drilled at the Newleyine prospect in Western Australia
- Drilling has tested two of three electromagnetic conductors which are believed to be consistent with mineralisation at Chalice Mining’s Julimar project
- Results include grades of up to 0.29 per cent nickel while one hole returned copper grading up to 853 parts per million
- Mandrake plans to resume drilling in November with the fourth hole planned to target the third conductor plate
- Company shares are down 7.14 per cent to trade at 5.2 cents at 1:08 pm AEST
Mandrake Resources (MAN) has received results from three holes drilled at the Newleyine prospect within its Jimperding Project in Western Australia.
The drilling program tested two of three electromagnetic (EM) bedrock anomalies after geophysical interpretations suggested they could be the response of massive sulphides consistent with mineralisation of Chalice Mining’s (CHN) Julimar platinum group element (PGE)-nickel-copper project.
The first hole targeted the eastern-most conductor plate B and encountered ultramafic rock with disseminated and vein-filled sulphides. Results include 2.6 metres at 0.21 per cent nickel from 134.37 metres.
The second hole targeted fixed-loop EM conductor plate A and returned semi-massive sulphide zones with visible chalcopyrite.
Best results include 7.4 metres at 0.29 per cent nickel from 96 metres and eight metres at 0.21 per cent nickel from 122 metres.
The third drill hole encountered semi-massive and massive sulphide zones, which appear proximal to the overlying ultramafic contact and are primarily composed of pyrrhotite and minor chalcopyrite.
This hole returned 6.6 metres at 0.19 per cent nickel and 853 parts per million copper from 315.4 metres.
Managing Director James Allchurch commented on the results.
“Anomalous nickel values associated with ultramafics in Mandrake’s second hole are encouraging, suggesting that further drilling is required at Newleyine,” Mr Allchurch said.
The company plans to resume drilling in November which will target the third and final conductor plate.
Company shares were down 7.14 per cent to trade at 5.2 cents at 1:08 pm AEST.