Native Mineral Resources Holdings Ltd (ASX:NMR) has secured a drill rig and is ready to begin exploration of its wholly-owned Helios target in the Nullarbor region of Western Australia in March 2022.
NMR will initially target the highest magnetic body defined with forward modelling of a recently completed drone-based magnetic survey.
Drilling has been designed to provide confirmation of the types of rock hosted at about 125 metres below the surface of the magnetic anomaly, which is directly comparable in scale and size to at least four other nickel bearing eye-shaped structures in the adjacent Frazer Range.
“Drilling represents next critical step”
“The results recently obtained from the Helios eye target are continuing to add to the company’s confidence in the exciting greenfields target that lies within a prospective, yet underexplored part of Australia,” Native Mineral Resources managing director Blake Cannavo said.
“The entire team at NMR are pleased to be able to announce that we have secured a rig to drill the target defined within the central part of the eye-shaped Helios nickel target.
“The company, along with assistance from many industry experts, is progressing quickly to choose its best targets and complete the very first drilling in this area.
“So far, every piece of information, from the initial targeting to the forward modelling of the magnetic data, has provided NMR with further confidence in the site.
“The drilling represents the next critical step in what we consider to be an amazing exploration opportunity.
“We are all looking forward to finding out what lies beneath the Nullarbor in the coming months. We will be providing the market with updates along the way.”
Forward modelling of the Helios target supports early interpretations that the central magnetic high contains magnetite-bearing mafic rocks found in association with intrusion-related nickel-copper-cobalt deposits such as the Nova-Bollinger deposit.
The multiple high magnetic readings in the centre of the Helios anomaly represent several targets prospective for mineralisation that warrant further investigation.
Future work programs
Native Mineral Resources has secured a drill rig to commence drilling in early March. The company is planning to drill into a well-defined target that has been modelled and defined using high-resolution drone magnetics.
Up to 1,200 metres of drilling has been planned but the final metres drilled will be dependent upon the ongoing assessment of drilling results in this previously untested ground.
The knowledge obtained from the drilling of the basement rock types will be used to plan additional target-specific geophysics later in the year.
About Native Mineral Resources
Native Mineral Resources is an 100% Australian-owned company, with a portfolio of precious metal and base metal properties in pedigree Australian exploration settings.
- Palmerville Project (QLD) is prospective for copper-zinc and gold;
- Eastern Goldfields Project (WA) is prospective for gold; and
- Nullarbor Project (WA) is prospective for copper, gold and nickel.