Announcement Date: 2022-11-15
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Auroch Minerals Ltd.
Project name: Nepean
Location: Australia
Commodities: Copper,Nickel
Highlight: Drilling results incl. 1m at 2.08% Ni, 0.26% Cu, 0.83g/t from 47m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Auroch Minerals Limited (ASX:AOU) (Auroch or the Company) is pleased to announce that assay results have been received for exploration and resource drilling at the Nepean Nickel Project (Nepean; Auroch Minerals 80%; Lodestar Minerals 20%) in Western Australia. A four-hole reverse-circulation (RC) drill programme totalling 695m was conducted over both the shallow Nepean nickel MRE and the Nepean North IP target. Two drill-holes targeted the northern portion of the shallow (top ~120m from surface) MRE at Nepean, with the aim to potentially upgrade a significant portion of the current Nepean Resource from an Inferred category to an Indicated category. Significant results from these two holes are listed below Importantly, these results correlate closely with the results from nearby historic drill-holes used in the current MRE of 236kt @ 1.5% Ni and 0.11% Cu for 3,625t of contained nickel and 252t of contained copper. 1 The data from both the new drill-holes and the historical drill-holes will be used to update the shallow Nepean MRE, with the aim to materially increase the proportion of Indicated Resources, which is currently approximately Inferred (50%): Indicated (50%). If as expected, the upgrade in resource category will provide higher confidence in the ongoing internal scoping studies into the viability of a shallow mining operation at Nepean.
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