Join our daily newsletter At The Bell to receive exclusive market insights
- NickelX (NKL) has begun moving-loop electromagnetic (MLEM) surveys on E39/1828 within the Biranup Project in WA
- The surveys will be undertaken over four high-priority targets that were highlighted via airborne electromagnetic surveys
- Wireline Services will undertake the MLEM surveys, which will aim to better define the targets
- NickelX has also appointed drilling company DDH1 to undertake maiden drill programs on the Fire Dragon and Silver Dragon targets
- The drilling will be supported by a $150,000 exploration incentive scheme grant from the WA Government and will begin following the MLEM results
- NickelX has ended the day in the grey with shares trading at 14 cents
NickelX (NKL) has begun moving-loop electromagnetic (MLEM) surveys on E39/1828 within the Biranup Project.
The Biranup Project lies in the north-eastern Albany-Fraser belt, roughly 350 kilometres northeast of Kalgoorlie in Western Australia.
The MLEM surveys will be undertaken over four high priority targets at E39/1828 that were highlighted via airborne electromagnetic (AEM) surveys.
These targets host NickelX’s criteria for the potential discovery of magmatic nickel-copper deposits at Biranup.
Wireline Services will undertake the MLEM surveys which will aim to better define the targets.
Work is progressing well and NickelX expects to report on the results in the coming weeks.
NickelX has also appointed drilling company DDH1 to undertake maiden drill programs on the Fire Dragon and Silver Dragon targets.
The drilling will be supported by a $150,000 exploration incentive scheme (EIS) grant from the WA Government and will begin following the MLEM results.
Additionally, Program of Work approvals have been received from the Department of Mines, Industry Regulation and Safety.
“Following efficient and safe mobilisation to site so soon after the company’s listing, the NickelX team are excited to better define both previously identified and newly identified high priority targets on E39/1828,” Managing Director Matt Gauci said.
“The MLEM results and interpretation will systematically guide our planned drill program where we have appointed DDH1 to lead an initial program, supported by an EIS grant, as part of a wider minimum 5000-metre drill program testing several targets at Biranup,” he added.
NickelX has ended the day in the grey with shares trading at 14 cents in a $9.6 million market cap.
