Dundas may have hit early evidence of nickel, copper and gold at its Central play

Thu 27 Oct 22, 11:46am (AEST)
A road stretching to the horizon in the Australian outback beneath a blue sky
Source: Unsplash

Key Points

  • Dundas has intersected multiple sulphides often coincident with the metals it is hunting: nickel, copper, and gold
  • Two drillholes complete with latest results from #2 sent to lab for analysis; drillhole 3 commenced
  • Company expects drilling to run into December, some 12km of prospective target area is present on-site

Dundas Minerals’ (ASX:DUN) latest drill run at its Central Prospect in WA has returned diamond cores prospective for nickel, copper and gold mineralisation.

A diamond drill rig perforated pyrrhotite, chalcopyrite and pyrite sulhpides, which often forms alongside commercial base metals, suggests the exploration team is on the right track.

Lab results pending 

The cores have been sent to two separate laboratories in Perth. Dundas said the anticipated turn-around time for the assay results at one of the laboratories is between four to six weeks. While the other expects results to be posted during November 2022.

The company notes sulphides intersected in hole 2 were lower than expected, but that modelling held by the company still suggests commercial metals are underground; as well as the presence of a strong magnetic anomaly. 

Still early days: Management 

“It is still early days at Central, this being only the second hole in an initial program across a series of anomalies spanning 12km,” Dundas MD Shane Volk said. 

“Hole 3 is now underway and is planned to test the strongest of the anomalies. The hole is located approximately between the first two and we anticipate drilling will continue into December.” 

“The intercepts are encouraging, as are various pXRF readings from the drill core. Nothing from the results of this hole discourages us.”

Hole 3 is expected to be complete in 7 to 10 days, after which the rig will move to hole 4.

A look at Dundas Minerals' three month charts
A look at Dundas Minerals' three month charts
Disclaimer: Market Index helps small-cap ASX listed companies connect with Australian investors through clear and concise articles on key developments. Dundas was a client at the time of publishing. All coverage contains factual information only and should not be interpreted as an opinion or financial advice.


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Written By

Jonathon Davidson

Finance Writer

Jonathon is a journalism graduate and avid market watcher with exposure to governance, NGO and mining environments. He was most recently hired as an oil and gas specialist for a trade publication.

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