InterMet Resources (ASX: ITT) will this week start aircore drilling this week at its Calypso nickel sulphide project in Western Australia.
This initial 10 hole program will confirm and extend nickel sulphide mineralisation and prospectivity of an ultramafic intrusive identified by BHP Minerals in their regional gold exploration during the mid-1980s.
Nickel sulphides assaying 16 metres at 0.2% nickel from 42 metres, including a high value of 2 metres at 0.43% nickel were obtained in the only hole assayed by BHP Minerals in the Zeus aeromagnetic anomaly.
However, disseminated sulphides and cumulate ultramafic textures were recorded in other holes drilled in both the Zeus and Argos anomalies which were not assayed or followed up.
The drilling program, which may be extended subject to exploration success, will also:
- Confirm the ultramafic and sulphide textures described in drilling over the Argos anomaly and along the flank; and
- Test a possible structural feature adjoining the Argos anomaly to the south east and identified by the company’s recent detailed ground magnetic survey.
The Calypso Project is an early stage nickel exploration project located within the southern extent of the highly endowed Agnew-Wiluna Nickel Belt, which plays host to several world class deposits, along with a number of smaller nickel resources.
These include the 335 million tonne at 0.516% nickel Mount Keith, Perseverance, the 189 million tonne at 0.69% nickel Honeymoon Well, and the 60 million tonne at 0.813% nickel Cosmos Deeps.
Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.
