Announcement Date: 2022-03-08
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Estrella Resources Ltd.
Project name: Carr Boyd
Location: Australia
Commodities: Copper,Nickel
Highlight: Drilling results incl. 16.2m @ 3.12% Ni, 0.6% Cu from 192.35m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Estrella Resources Limited (ASX: ESR) (Estrella or the Company) is pleased to announce the receipt of assays from CBDD064 (Figure 1, Table 1)1 , a diamond drillhole targeted below the existing workings at the Company’s 100% owned flagship Carr Boyd Nickel and Copper Project, located approximately 80km NNE of the City of Kalgoorlie-Boulder, Western Australia. With nickel prices now reacting to strong demand from the global EV and battery revolution, Estrella is in an enviable position owning numerous quality nickel sulphide projects with scope for significant discoveries. The Ukraine War with Russia has seen nickel prices reach extraordinary levels overnight on the London Metal Exchange in excess of US$21.80/lb. These are prices that haven’t been seen since the resource boom in 2007 and in Australian dollar terms we haven’t seen such prices ever. As much as the nickel price rise is welcomed the war in Ukraine is not and I very much pray that peace is restored to the people of Ukraine.
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