Since acquiring the Malamute and Husky projects in early 2018, their nickel-cobalt potential has been the Board's primary focus.
Over the course of the year, the geology team has done considerable work - desktop review, field trips, aeromagnetic imagery analysis and geochemical assays - to determine both projects are highly prospective.
Moreover, both projects are in a region with high profile ASX-listed peers (such as Clean Teq, Australian Mines, Platine) that have demonstrable cobalt JORC compliant inferred resources.
As drill targets have been finalised, the next objective is to secure fresh funding to fast-track a first quarter 2019 drilling campaign.
As the NSW mining regulator has already approved the drilling program for Malamute and Husky, the Board has started requesting qwuotes from several drilling contractors.
Encouragingly, most landholder access agreements have been signed, which allows for exploration drilling to proceed on private land.
The overall objective of the drilling campaign is two-fold:
- Confirmation of sub-surface lateric mineralisation over ultramafic intrusive sopurce units, with stages planned to allow for expanding the potential deposit;
- An end goal of producing a JORC (2012) compliant resource.
For Malamute (refer location map), aligning three distinct magnetic peaks (identified through aeromagnetic imagery) with geochem sample locations - that exhibited elevated Ni-Co traces - largely formed the basis of the prioritised drilling targets.
For Husky East and West, the drill targets align with the geochem sample locations and contiguous geophysical signatures from neighbouring ASX listed peers (CLQ, AUZ, PGM) that have proven JORC (2012) compliant inferred resource.
Husky and Malamute Final Drilling Patterns