- Golden Mile Resources (G88) strikes its highest ever nickel grades at the Quicksilver nickel-cobalt deposit in Western Australia
- The company’s drilling program returned results including 28 metres at 2.34 per cent nickel and 0.109 per cent cobalt from 32 metres depth, with intercepts including 4.14 per cent nickel and 0.42 per cent cobalt
- The discovery suggests the presence of a higher-grade zone within the existing resource
- Golden Mile is trading at 5.9 cents a share at 4:30pm AEST
Golden Mile Resources (G88) has struck its highest ever nickel grades during exploration at its Quicksilver nickel-cobalt deposit in Western Australia.
The company’s latest bout of PQ diamond drilling revealed extensive areas of high-grade nickel mineralisation within the existing resource.
Results from drilling included 28 metres at 2.34 per cent nickel and 0.109 per cent cobalt from 32 metres depth, with intercepts including 4.14 per cent nickel and 0.42 per cent cobalt.
“These are remarkable intersections and represent the highest nickel grade we have ever encountered at Quicksilver,” Managing Director of Golden Mile Damon Dormer said.
“These results indicate the presence of a significantly higher-grade zone within the overall resource, potentially offering a valuable opportunity for early cash flow.”
The discovery of high-grade nickel mineralisation further reinforces the company’s commitment to maximising the value of its mining assets.
The company is currently designing a program to test for primary rare earth mineralisation in the same area.
Australian retail investors can explore this “exciting” opportunity, which has the potential to generate attractive returns in the burgeoning nickel market.
G88 was trading at 5.9 cents a share at 4:30pm AEST.