PAIV:Falcon Minerals drilling expands nickel-copper-PGE zone at Olympia prospect
Falcon Minerals (ASX: FCN) has intersected more massive nickel-copper-PGE sulphides from drilling in two holes at its wholly-owned Collurabbie Project, extending the mineralisation at the Olympia prospect.
The nine-hole, 3014 metres diamond drill program testing for southern and northern extensions to the main Olympia mineralised zone at the project, located in the Duketon greenstone belt of Western Australia, has now been completed.
Highlights in hole CLD211 include:
- 3.75 metres at 2.21% nickel (Ni), 1.82% copper (Cu) and 3.53 grams per tonne (g/t) platinum group minerals (PGE) Platinum and palladium (Pt+Pd) from 189.75 metres associated with massive to matrix sulphides; and
- 5.05 metres at 0.51% Ni, 0.37% Cu and 0.54g/t PGE (Pt+Pd) from 232.95 metres associated with disseminated sulphides.
The intersection in hole CLD211 is significant as it confirms the continuity of the main massive nickel-copper-PGE zone over a strike length of at least 100 metres to the south of the previously drill-tested mineralised zone.
In addition, the company said a moderately conductive off-hole conductor was detected in the down-hole electromagnetic (EM) survey and appears to be coincident with the mineralised horizon, with the mineralisation remaining open to the south.
The intersections from hole CLD213 indicate that massive nickel-copper-PGE sulphides are still evident some 100 metres north along strike from the main zone at Olympia.
In particular, massive nickel sulphides intersected in fractured footwall basalt in CLD213 are interpreted to be locally-derived and may immediately underlie a significant massive nickel sulphide horizon. This position remains to be drill tested.
Widespread disseminated nickel-copper-PGE sulphides were also intersected in four drill holes at the Spartacus Prospect located 4 kilometres to the north of Olympia.
Further work will be conducted to examine the potential for a large, bulk tonnage low-grade Ni-Cu-PGE deposit at the Spartacus Prospect, and will include the Troy Prospect immediately to the north, which is largely untested.
