Hylea Metals Ltd (ASX:HCO) has extended high-grade cobalt-platinum-nickel-scandium mineralisation at Tiger’s Creek prospect, part of the Hylea project in New South Wales.
Assays from the first 12 holes of a recently-completed 54-hole, 3,621-metre reverse circulation and aircore drill program contain high grades of all four metals.
They include strong results of up to 0.61% cobalt, 10.55 g/t platinum, 720ppm scandium and 1.38% nickel.
Shallow intersections
The intersections start from 2 metres below surface and the deepest mineralisation was intersected at a vertical depth of 60 metres.
Hylea managing director David Berrie said the assays were exceptional given their widths, grades and close proximity to surface.
“These results show the potential of the Hylea project.”
READ: Hylea Metals has drill bit spinning in one of Australia’s best cobalt addresses
Hylea is within the emerging Fifield Battery Metals District which hosts the Sunrise project of Clean Teq Holdings (ASX:CLQ) just 50 kilometres away.
It also hosts Australian Mines’ (ASX:AUZ) Flemington project and Platina Resources’ (ASX:PGM) Owendale project.
All these projects host cobalt-nickel-scandium resources.
Best assay results
Best cobalt-nickel-platinum assays from near-surface include:
- 19 metres at 0.10% cobalt, 0.68% nickel and 0.44 g/t platinum from 6 metres, including 9 metres at 0.14% cobalt, 0.55% nickel and 0.57 g/t platinum; - 18 metres at 0.20% cobalt, 0.71% nickel and 1.32 g/t platinum from 5 metres, including 14 metres at 0.23% cobalt, 0.71% nickel and 1.58 g/t platinum; and - 8 metres at 0.29% cobalt, 0.77% nickel and 0.73 g/t platinum from 2 metres, including 6 metres at 0.37% cobalt, 0.89% nickel and 0.81 g/t platinum.
High-grade scandium assays include 7 metres at 540ppm scandium from 7 metres, including 3 metres at 630ppm, and 9 metres at 446ppm from 15 metres.
Further assays due
Berrie said: “We know we have outstanding grades and widths and that the mineralisation is basically at the surface, now it is a question of how big it is.
"This will become clearer as the assays from the remaining 42 holes become available over the next few weeks.
"We also have a series of strong, extensive soil anomalies in close proximity to Tiger’s Creek which will be tested in upcoming drilling programs.
"The combination of these drill results and the outstanding soil sampling results indicate that the Hylea project has the potential to quickly upgrade from an exploration project.”