Dynamic Metals Ltd (ASX:DYM) has kicked off a 6,000-metre multi-purpose aircore program targeting nickel mineralisation at its Lake Percy Project, situated in the Goldfields Region of Western Australia.
During the program, the newly listed nickel and gold explorer aims to advance existing and new nickel and lithium targets for follow-up reverse circulation (RC) and diamond drill testing at the project.
Encouragingly, Dynamic is fully funded for exploration across its critical minerals portfolio following the completion of a $7 million IPO in January 2023.
Fresh data
Dynamic managing director Karen-Wellman said: “It is fantastic to see the drill rig turning on our second drill program since listing only seven weeks ago.
“We are excited to be systematically exploring the Lake Percy belt and obtaining fresh data for our nickel and lithium mineralisation models, ensuring bang for our buck in the next phase of drilling.”
Drill program
This is the first step in a two-phase program proposed to be completed at Lake Percy over the next six months.
The purpose of the phase one program is to drill through the weathering profile across the western ultramafic to obtain fresh rock samples for geochemical analysis, which will feed into Dynamic’s targeting model for nickel sulphides.
The results of the phase one drill program will be used to refine additional targets for a deeper RC drilling program planned for phase two, where several RC targets have already been generated based on existing historic data.
It is anticipated these drill programs will also provide additional information on the nature and extent of pegmatites in the region as part of Dynamic’s assessment of the lithium-caesium-tantalum (LCT) potential of the project.
Forward plan
Dynamic has been reviewing the LCT potential of the Lake Percy Project and further fieldwork including mapping and sampling will be ongoing through March to continue to build on the knowledge of the zoning of the Lake Percy pegmatites and refine potential lithium drill targets.
In addition, the company anticipates first results from the RC program completed in February at the Dordie Far West Prospect at the Widgiemooltha Project will be received by the end of the quarter.
About the project
The Lake Percy Project is situated about 120 kilometres to the west of Norseman, along the Hyden-Norseman Road.
The company’s tenements are centred around the northern extension of the Lake Johnston greenstone belt, which hosts the recent Medcalf spodumene discovery by Charger Metals and the Emily Ann and Maggie Hays nickel mines.
There are several lithium prospects in close proximity including the Mt Day LCT pegmatite field around 20 kilometres southeast of the Lake Percy Project.
The project is also close to the Earl Grey Lithium Project situated some 60 kilometres to the west which is currently under development by Covalent Lithium Pty Ltd.