Managing director Stefan Murphy will update investors on the company’s progress at its Mt Venn and Eastern Mafic projects from which strong results are being received.
Drilling results from both projects as well as nearby targets are proving encouraging while test work on ore from the Mt Venn project is generating high-value copper, nickel and cobalt products.
Murphy will address investors at the CEO Session in Sydney on Monday 19 November and in Melbourne on Tuesday 20 November.
Recent drilling has confirmed that Eastern Mafic hosts a more nickel-rich part of the magmatic sulphide system than the Mt Venn deposit.
Exploration is now focusing on the higher-tenor nickel sulphide along the feeder structure and neck of the intrusion.
Mt Venn, which is just 7 kilometres away, only has a single phase of low-tenor nickel, however, appears to be richer in copper and cobalt.
The first metallurgical testing of samples from the more advanced Mt Venn project has produced a copper sulphide grading 42% copper that can be blended with copper flotation concentrate to improve overall recovery and concentrate grade.
A high-quality, chemical grade cobalt sulphate at 29% cobalt and more than 99% cobalt sulphate was produced, with Great Boulder declaring the product “suitable for high-value use in the battery market”.
A high-quality nickel sulphide grading 42% nickel was produced, with test work to produce nickel sulphate to start soon.
Regionally, a 1,000-metre reverse circulation drilling program is underway at Tarmoola gold prospect with first results expected in mid-November.
Mt Carlon, 60 kilometres south of Mt Venn, is considered a highly attractive nickel sulphide target because it exhibits a strong magnetic and gravity response over several kilometres.
The company has secured an option over this project from Gold Road Limited (ASX:GOR) and upcoming exploration will assess elevated levels of nickel and copper identified in historical aircore drilling.
An option has also been secured with Ausgold Limited (ASX:AUC) to form a joint venture over the Winchester copper-nickel sulphide project, 40 kilometres north of Mt Venn.
The high nickel tenor of mineralisation makes it particularly attractive as a blend for Mt Venn, as does its potential to host higher grade nickel sulphide.
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Or call John Phillips on (02) 9280 0700
The Proactive CEO Sessions feature five presenting companies in total.