FUTURE BATTERY MINERALS LIMITED For personal use only
ASX ANNOUNCEMENT
16th March 2022
HIGH-GRADE NICKEL INTERSECTED OUTSIDE CURRENT
MODELLED RESOURCE AT SAINTS
Highlights
-
Assays for drill-holes SNDD021 and SNDD022 confirm further high-grade massive nickel sulphides at the Saint Patricks deposit of the Saints Nickel Project in WA:
o SNDD021: 3.01m @ 5.23% Ni, 0.69% Cu, 0.77g/t PGE from 177.08m
o SNDD022: 0.84m @ 2.98% Ni, 0.36% Cu, 0.67g/t PGE from 177.73m 1 - Both significant intersections are located outsideof the current modelled resource at Saint Patricks and hence are expected to increase the contained nickel metal for Saint Patricks when the updated Mineral Resource Estimate (MRE) is completed next quarter
- The recently completed diamond drill programme at Saints comprised predominantly infill drilling aimed at upgrading and potentially extending the current Saints Nickel Project Mineral Resource of 1.02Mt @ 2.0% Ni for 21,400t of contained nickel 2
Auroch Minerals Limited (ASX:AOU) (Auroch or the Company) is pleased to announce assay results in two drill-holes have confirmed further high-gradenickel sulphide intersections at the Saint Patricks Prospect of the Saints Nickel Project (Saints; Auroch Minerals 100%) in Western Australia. These high-grade intersections are in addition to the high-grade mineralisation intercepted in drill-hole SNDD018 which was announced on 9th March 2021.
Diamond drill-holes SNDD021 and SNDD022 were drilled at Saint Patricks (Figure 1) into a gap between the modelled nickel sulphide mineralisation used in the current Mineral Resource Estimate (MRE) (Figure 2). Both holes successfully intersected massive nickel sulphides just above the basal contact, with the following significant assay intersections (Table 1):
- SNDD021: 3.01m @ 5.23% Ni, 0.69% Cu, 0.77g/t PGE from 177.08m
- SNDD022: 0.84m @ 2.98% Ni, 0.36% Cu, 0.67g/t PGE from 177.73m 1
Given that the massive nickel sulphides in SNDD021 and SNDD022 were intersected outside of the current modelled resource at Saint Patricks, these high-grade results are expected to increase the tonnage and potentially the overall grade, and hence the contained nickel metal, of Saint Patricks when the next MRE is completed. The updated MRE is forecast to be completed in the June 2021 quarter.
Auroch Managing Director Aidan Platel commented:
"The assay results have exceeded expectations confirming high-grade intersections of massive nickel sulphides in holes SNDD021 and SNDD022, which have shown that mineralisation is actually continuous right through what was previously interpreted to be a gap in the Saint Patricks Resource.
The nickel sulphides intersected in the infill drilling has been consistent with our current model which confirms our existing resource estimation and bodes well for the planned upgrade to the Saints Resource, which will underpin the Scoping Study that is ongoing.
- Significant intersections are reported at a 1.0% Ni cut-off on a density-weighted basis; all intersections are down-hole widths unless otherwise stated
- JORC (2012) Inferred Resources, above a 1.0% Ni cut-off grade. Refer to ASX Announcement - AUROCH TO ACQUIRE HIGH-GRADE WESTERN AUSTRALIAN NICKEL PROJECTS https://www.asx.com.au/asxpdf/20190528/pdf/445dz31g15d0kx.pdf.
Auroch Minerals Ltd ABN 91 148 966 545
Suite 10, 38 Colin St, West Perth WA 6005 Phone: +61 8 6383 7817 Fax: +61 8 6245 9853
Email: admin@aurochminerals.com www.aurochminerals.com
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ASX ANNOUNCEMENT
16th March 2022
We eagerly await more assay results from this diamond drill programme at Saints, whilst we now turn our attention to upcoming drill programmes at our Leinster and Nepean Nickel Projects."
Ten drill-holes for 2,667m of the diamond drill programme at Saints have been completed (Table 2), which is aimed at upgrading the current Saints MRE of 1.02Mt @ 2.0% Ni for 21,400t of contained nickel 1 from an Inferred Resource category to a predominantly Indicated Resource category. The majority of the programme has been infill drilling, including three holes specifically designed for metallurgical testwork required for the Saints Scoping Study. Seven of the holes have been drilled at the Saint Andrews deposit and three at the Saint Patricks deposit (Figure 1).
Photograph 1 - 3.01m of massive nickel sulphides grading 5.23% Ni from 177.08m in drill-hole SNDD021 at
Saint Patricks
Auroch Minerals Ltd ABN 91 148 966 545
Suite 10, 38 Colin St, West Perth WA 6005 Phone: +61 8 6383 7817 Fax: +61 8 6245 9853
Email: admin@aurochminerals.com www.aurochminerals.com
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ASX ANNOUNCEMENT
16th March 2022
Figure 1 - Map of the Saints Nickel Project showing historic collars and drill-holes from the recent diamond
drill programme against interpreted geology and resource outline
Auroch Minerals Ltd ABN 91 148 966 545
Suite 10, 38 Colin St, West Perth WA 6005 Phone: +61 8 6383 7817 Fax: +61 8 6245 9853
Email: admin@aurochminerals.com www.aurochminerals.com
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ASX ANNOUNCEMENT
16th March 2022
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Figure 2 - Long-section of the current modelled resource at the Saint Patricks deposit showing intersected
pierce points and significant intersections from current drill programme
This announcement has been authorised by the Board of Directors of the Company.
-END-
For further information visit www.aurochminerals.comor contact:
Aidan Platel
Managing Director
E: aplatel@aurochminerals.com
Competent Persons Statement
The information in this report that relates to Exploration Results is based on and fairly represents information compiled by Mr Matthew McCarthy BSc (Hons), a Competent Person, who is a Member of the Australian Institute of Geoscientists. Mr McCarthy is the Company's Senior Geological Officer and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr McCarthy consents to the inclusion in the announcement of the matters based on his information in the form and context in which it appears.
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ASX ANNOUNCEMENT
16th March 2022
Forward-Looking Statements
This document may include forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning Auroch Minerals Limited's planned exploration programmes and other statements that are not historical facts. When used in this document, the words such as "could," "plan," "estimate," "expect," "intend," "may", "potential", "should," and similar expressions are forward-looking statements. Although Auroch Minerals Limited believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements.
Table 1 - Significant intersections from the recent diamond drill programme at Saints. Intersections shown are
length and density weighted
Interval | Combined | |||||||||||||||||||||||||||
HOLE ID | Including | From (m) | To (m) | Ni % | Cu % | PGE (Pt+Pd) | ||||||||||||||||||||||
(m) | ||||||||||||||||||||||||||||
g/t | ||||||||||||||||||||||||||||
SNDD016 | Awaiting Assays | |||||||||||||||||||||||||||
SNDD017 | Awaiting Assays | |||||||||||||||||||||||||||
167.99 | 170.12 | 2.13 | 3.26 | 0.19 | 1.24 | |||||||||||||||||||||||
SNDD018 | Including | 169.81 | 170.12 | 0.31 | 8.83 | 0.44 | 2.91 | |||||||||||||||||||||
311.98 | 316.77 | 4.79 | 2.05 | 0.16 | 0.36 | |||||||||||||||||||||||
Including | 316 | 316.77 | 0.77 | 5.09 | 0.47 | 0.5 | ||||||||||||||||||||||
SNDD019 | Metallurgical drill-hole | |||||||||||||||||||||||||||
SNDD020 | Metallurgical drill-hole | |||||||||||||||||||||||||||
SNDD021 | 177.08 | 180.09 | 3.01 | 5.23 | 0.69 | 0.77 | ||||||||||||||||||||||
SNDD022 | 177.73 | 178.57 | 0.84 | 2.98 | 0.36 | 0.67 | ||||||||||||||||||||||
SNDD023 | Metallurgical drill-hole | |||||||||||||||||||||||||||
SNDD024 | Awaiting Assays | |||||||||||||||||||||||||||
SNDD025 | Awaiting Assays | |||||||||||||||||||||||||||
SNDD026 | Awaiting Assays |
Table 2 - Details of completed diamond drill-holes in the current drill programme at the Saints Nickel Project
HOLE ID | EASTING | NORTHING | ELEVATION | AZIMUTH | DIP | FINAL | |||||||||||||||||
DEPTH | |||||||||||||||||||||||
(m) | (m) | (m) | |||||||||||||||||||||
(m) | |||||||||||||||||||||||
SNDD016 | 329,818.3 | 6,672,490.6 | 365 | 090 | -70 | 220 | |||||||||||||||||
SNDD017 | 329,816.0 | 6,672,444.1 | 366 | 090 | -70 | 240 | |||||||||||||||||
SNDD018 | 329,682.7 | 6,672,440.4 | 365 | 090 | -72 | 378 | |||||||||||||||||
SNDD019 | 329,851.4 | 6,672,453.3 | 362 | 090 | -75 | 240 | |||||||||||||||||
SNDD020 | 329,303.2 | 6,673,250.9 | 366 | 090 | -65 | 200 | |||||||||||||||||
SNDD021 | 329,324.0 | 6,673,289.8 | 366 | 090 | -60 | 240 | |||||||||||||||||
SNDD022 | 329,334.4 | 6,673,242.7 | 363 | 090 | -65 | 295 | |||||||||||||||||
SNDD023 | 329,758.2 | 6,672,403.3 | 364 | 090 | -72 | 285 | |||||||||||||||||
SNDD025 | 329,879.4 | 6,672,312.3 | 366 | 088 | -70 | 248 | |||||||||||||||||
SNDD026 | 329,877.5 | 6,672,312.3 | 364 | 092 | -70 | 321.9 |
Auroch Minerals Ltd ABN 91 148 966 545
Suite 10, 38 Colin St, West Perth WA 6005 Phone: +61 8 6383 7817 Fax: +61 8 6245 9853
Email: admin@aurochminerals.com www.aurochminerals.com
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Auroch Minerals Ltd. published this content on 15 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 March 2022 22:47:06 UTC.
