Rare Earths

Dundas Minerals hits nickel mineralisation in early assay results

Wed 11 May 22, 12:47pm (AEST)
Nickel

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Key Points

  • Dundas Minerals notes 34m @ 0.23% Ni and 33m @ 0.14% Ni; 0.27% chromium at Jumbuck
  • Evidence for REEs present in assay results at Jumbuck, as well as separate Kokoda Gold Prospect
  • Company abandoning gold hopes at Kokoda but will now assess opportunity to produce REEs at Kokoda

Dundas Minerals (ASX:DUN) has uncovered broad zones of mineralisation onsite its Jumbuck Nickel Prospect at the company's acreage north of Esperance. 

Dundas retrieved 34m @ 0.23% Ni and an additional 33m @ 0.14% Ni and 0.27% chromium. The intersects were confirmed by assay results delivered to the company borne from its February 2022 RC drilling program. 

Dundas Minerals states down both drill holes, nickel enrichment commences at the base of complete oxidation and continues through to the underlying mafic rock, which hosts the majority of mineralisation. 

Source: Dundas Minerals
Source: Dundas Minerals

Evidence for REEs also present

On top of the assay results identifying nickel and chromium, the company also notes elevated REE values were present in three drill holes executed in the February drilling program. 

Those elevated levels are mainly within the lower regolith clay, the company notes, with intercept widths of 8m, 9m and 22m respectively. 

Dundas gives up on gold hopes at Kokoda prospect

Regarding the company's separate Kokoda gold prospect drilling, no significant mineralisation was identified in assays from exploratory gold drilling performed in January. 

However, the company has also found REE values in the cores procured from Kokoda. 

Dundas Minerals notes it is to give up looking for gold at Kokoda, but will now reassess the prospect for the potential of a pure REE play. 

Heading into lunch, Dundas Minerals' share price is sitting at 16cps, up over 3% in morning trade.

The shape of Dundas Minerals charts
The shape of Dundas Minerals' charts

 

Dundas Minerals was a Market Index client at the time of publishing. All coverage contains factual information only and should not be interpreted as opinion of financial advice.

 

Written By

Jonathon Davidson

Journalist

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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