Dynamic Metals has kicked off a 6000m air-core program across its Lake Percy project where it will test existing and search for new nickel and lithium targets near Norseman in the Goldfields region of WA.
The phase one exploration will consist of 100 air-core holes to obtain rock samples at the site in WA’s Goldfields region for geochemical analysis to build a targeting model for nickel sulphides.
Dynamic expects the samples will also assist in the assessment of the lithium-caesium-tantalum potential of the operation by providing further information on the nature and extent of pegmatites in the region for a follow-up RC and diamond drill campaign.
The Lake Percy tenements are centred around the northern extension of the Lake Johnston greenstone belt which hosts the recent Medcalf spodumene discovery by Charger Metals in addition to the Emily Ann and Maggie Hays nickel mines.
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.
Located around 60km east of the Mt Holland lithium project, Lake Percy covers an area of about 200 square kilometres and sits along the Lake Johnston Greenstone Belt. Dynamic says it has identified spodumene-bearing pegmatites around 20km south of the site’s Mt Day prospect in addition to anomalous lithium intersected in historic drilling. The site has previously been explored for nickel by companies including Anaconda, LionOre and White Cliff Minerals while Liontown has also done some lithium exploration in the area.
Notably, historic assay results include a significant 16m hit going 1.5 per cent nickel from 18m in addition to a 6m section at a solid 1.7 per cent nickel. Dynamic’s exploration program for nickel and lithium at Lake Percy has already highlighted eight potential targets from historical data and geophysics. Previous gold exploration across the operation focused on regional sampling that highlighted a number of promising gold anomalies.
Dynamic hit the boards at the ASX in January after spinning out of Jindalee Resources with a mass of tenements that stretch from Kambalda down to Lake Percy near Norseman. The parent company discovered the McDermott project in the USA which is shaping as potentially one of the largest lithium deposits in America and as such will be receiving its full attention. With a successful $7 million IPO raise prior to its listing, the company has no issues funding its current exploration efforts.
Just last month Dynamic wrapped up its maiden drill campaign at the company’s Dordie Far West nickel target at its Widgiemooltha lithium-nickel-gold project near Kambalda.
The explorer punched out a total of five RC holes across 736m over a strike length at Dordie Far West of around 300m. Two of the five drill holes intersected the basal contact and all samples have been sent to a Kalgoorlie laboratory for analysis with results expected by the end of the quarter.
With both nickel and lithium being sought-after commodities at the moment, the market will be keen to see what Dynamic can uncover when it looks under the hood at Lake Percy while it waits for its upcoming results from the earlier RC drill program at Widgiemooltha.
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Source by [earlynews24.com]