Resources & Energy Group Limited (ASX: REZ) has obtained positive results from the company’s 2023 opening drilling campaign at the Springfield Nickel Prospect in Western Australia.
Multi element and precious metal assay results for SFRC016 confirm the hole intersected a significant interval of Meta-Komatiite hosted Nickel sulphides. This comprises a principal mineralised interval of 8m @0.64% Ni, 469ppm Co and 45ppb (Pt+Pd) from 102m, within a broader interval of 17m @0.40% Ni, 295ppm Co and 32ppb (Pt+Pd) from 96m downhole.
The anomalous PGE values of up to 50ppb (Pt+Pd) are persuasive indicators for magmatic nickel sulphide mineralization, with the down hole PGE’s bearing a strong correlation with Nickel values.
Chip sample representing the drilled interval were forwarded to Nickel specialist Dr Ben Grguric for validation and petrological assessment. Based on polished resin block samples of these, Dr Grguric has confirmed Nickel is present as sulphide within the assayed intervals.
SFRC016 was drilled approximately 650m west of SFRC01, where Nickel sulphides of magmatic origin were first identified.
This is a significant step-out result for the company in an area previously untested by modern exploration. The finding opens potential for a shallow, continuously mineralized zone of disseminated Nickel mineralization of considerable width across the Springfield prospect.
“This is a strong indication that REZ has identified a large and shallow Nickel deposit with prospects for open cut development,” MD and CEO, J. Daniel Moore, said.
“The Nickel and Gold opportunities within REZ’s Menzies tenements are resulting from the consolidation of 40-50 small Prospecting holdings into the extensive wholly-owned package we have today. This has also opened the way to modern approaches for exploration and the sort of drill hits we are now enjoying.”
Next Steps
The company is awaiting precious metals assays for SFRC017, SFRC018, SFRC019 and SFCR020 in the coming weeks, before planning work commences on the next stage of drilling. SFRC016 will be conditioned and prepared for a down hole EM survey seeking a massive Nickel target.
The company has also identified two additional EM anomalies, which are located in a well head protection zone in the northern part of the prospect. The bore field has been decommissioned, however, consent to undertake drilling operations will be required.
Further drilling will also test the continuity and extensions of the zones of disseminated Nickel further west and east of SFRC016.
Sample recovered from the follow up programme will be submitted for a combination of Aqua Regia and four acid digestion for Multi Element analysis by ICPMS to provide a high-level indication the metallurgical character of the mineralization. SEM work on samples recovered will also be carried out to confirm mineral chemistry.
For further information please visit: https://rezgroup.com.au/
