Announcement Date: 2022-07-19
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Essential Metals Ltd.
Project name: Golden Ridge
Location: Australia
Commodities: Copper,Nickel
Highlight: Drilling results incl. 25m @ 0.8% Ni, 994ppm Cu from 119m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: The Golden Ridge Project is located approximately 30km by sealed road to the south east of KalgoorlieBoulder and hosts the historical Blair Nickel Mine, which produced a total of 1.2 Mt@ 2.63% Ni between 1989 and 2009. The consolidated 113km2 project area is considered highly prospective for the discovery of new high-grade komatiite-hosted nickel deposits (Kambalda style). The Golden Ridge Project is currently being managed by highly experienced nickel explorers and developers Australian Nickel Company Limited (“ANCO”) through a Farm-In Joint Venture Agreement with Essential Metals Limited (“ESS”). ANCO has the right to earn a 75% interest in the nickel and related commodities rights by spending $4.0 million over 4 years, with ESS retaining a 25% free-carried interest to a decision to mine. An initial 20-hole (3,429m) Reverse Circulation (RC) drilling program with accompanying down-hole electromagnetic (DHEM) surveys has been completed across five targets. Summary details of the drill programme are provided below. Blair South The Blair South Prospect is located approximately 3km south of the closed Blair Nickel Mine and is considered highly prospective for both high-grade (+2.5% Ni) and larger scale disseminated mineralisation (+0.6% Ni).
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