Strategic Minerals PLC’s (LON:SML) Hanns Camp project in Western Australia will need more exploration to assess the size of any roesiurce.
Three holes drilled confirmed nickel sulphide and platinum at the prospect.
Results from three holes drilled at Hanns Camp showed combined average nickel grades of between 0.8% to 0.67% at depths down to 56m.
Central Australian Rare Earths (CARE), SML’s 50%-owned associate that owns Hanns Camp, now plans to re-assay the samples with elevated platinum for the rest of the Platinum Group Elements (PGEs) and undertake an expedited Mineral Resource estimate around the supergene nickel enrichment in the weathered zone.
Depending upon the nature of the historical data, the Mineral Resource estimate may or may not be made under the JORC code
CARE is also examining the prospect of drilling its Mount Weld, Western Australia for rare earths and gold.
John Peters, managing director, said: "The confirmation provided in the assay results is encouraging, however, to gain an understanding as to the potential value of the tenement an initial Mineral Resource estimate is required, which is likely to be followed by further land based electromagnetic surveys and targeted drilling.”