Beyond the thrilling nickel-cobalt potential and intriguing...

Beyond the thrilling nickel-cobalt potential and intriguing hints of clay-hosted rare earth elements (REE) and scandium, imagine the excitement of uncovering primary REE mineralization as well.

This remarkable breakthrough has the power to revolutionize Quicksilver, as a comprehensive review has unveiled the possibility of a carbonatite source for the significant oxide clay-hosted REE mineralization observed during nickel-cobalt drilling.

Golden Mile Resources (ASX:G88) has uncovered petrographic evidence of primary REE mineralization at great depths through diamond core sampling. Remarkably, the samples also exhibit stock work veining and alteration, pointing to structurally controlled hydrothermal fluid and intrusion activity.

Moreover, compelling evidence arises from 3D modelling of resource drilling, revealing a distinct carbonatite magmatic signature associated with an interpreted fault that traverses the Quicksilver nickel-cobalt oxide resource. This extraordinary development complements the already significant clay-hosted discoveries, including impressive finds such as 4m grading 3,295 parts per million (ppm) total rare earth oxides (TREO), with 1m at 7,915ppm TREO and 10m at 2,548ppm TREO, including 1m at 3,949ppm TREO. These discoveries are particularly noteworthy as they occur within the same mineralized envelope as the nickel-cobalt mineralization.

Notably, further 3D modeling indicates that the oxide clay-hosted REE mineralization extends beyond the current limits of the resource drilling, with open potential to both the northwest and southeast. CEO Damon Dormer expressed the significance of uncovering what lies beneath the nickel and cobalt, stating, "Determining the potential for further REE mineralization underneath the known resources is crucial for optimizing infrastructure positioning. This deposit seems to keep on giving, and the prospect of additional REE mineralization is incredibly exciting."

To deepen our understanding, the company conducted a thorough review to investigate the origins of the substantial REE mineralization encountered at Quicksilver, which is influenced by a regional fault featuring a carbonatite magmatic signature.
This fault, exhibiting a strong spatial correlation with REE mineralization, led the company to hypothesize the existence of carbonatite intrusions or veins along the fault, penetrating the underlying ultramafic rocks. This phenomenon could explain the remarkable REE mineralization observed in the overlying clay oxide zone.

Leveraging this unique mineralogy, Golden Mile aims to develop a low-energy beneficiation process that can extract nickel, cobalt, iron, chromium, and now REE without resorting to costly hydrometallurgical methods, significantly reducing complexity and expenses.
Exciting plans are in motion, including a targeted program of approximately 1,500m of reverse circulation exploration drilling. The initial focus will be on the fresh rock beneath the nickel-cobalt oxide resource, with a particular emphasis on the interpreted fault.

Additionally, Stage 3 metallurgical testwork will incorporate REE testing to determine the concentration of REEs in the product streams resulting from the beneficiation process. This critical step will unravel the potential value of the REEs extracted.
05 April 2023
Stage 3 Metallurgical Diamond Drilling Completed at Quicksilver
Golden Mile Resources Limited (ASX: G88; “the Company”) is pleased to advise that the PQ diamond
drilling programme for Stage 3 Metallurgical testwork on the Quicksilver Nickel-Cobalt deposit has
been completed ahead of schedule and all samples have been delivered to the Bureau Veritas (“BV”)
laboratory in Canning Vale. A total of 8 holes for 548.9m were completed to collect bulk sample for
Stage 3 metallurgical testing.