Announcement Date: 2022-06-28
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Caeneus Minerals Ltd.
Project name: Pardoo
Location: Australia
Commodities: Nickel
Highlight: Drilling results incl. 94m @ 0.43% Ni from 35m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Caeneus Minerals Ltd (“CAD”, “Caeneus” or “the Company”) is pleased to announce receipt of the final assay results from its Phase 1 reverse circulation (RC) drill program over the historical Highway Ni-Co-Cu-Pd deposit in the highly prospective Goldsworthy Greenstone Belt, in the Pilbara region of Western Australia (Figure 1). The Company’s recently completed drilling programme has provided a valuable insight and in-depth understanding into the geochemical and structural controls on the core Ni-Co-Cu-Pd mineralisation and the higher grade solely copper intercepts identified within the metasediment footwall. In particular, core Ni-Co-Cu-Pd mineralisation appears to be tightly constrained within a hanging wall layered schist which provides the Company with confidence that the reported significant mineralisation encountered at shallow depths should also be present at greater depths where this same host lithology continues. A geological interpretation of the wide and shallow mineralisation at the Highway deposit is shown in cross sections AA’ and BB’ (Figures 2 and 3). This metallurgical work is considered comprehensive and will support the ongoing development and further assessment of the project. The results of this test work is expected to be completed in September. The Company is also pleased to confirm that a new drilling programme will commence contemporaneously with the metallurgical studies. Commencing in late July-August, a further 5000 m RC drill program tender has been awarded to Impact Drilling Services where a
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