Ark Mines Ltd has completed 844 metres of Reverse Circulation (RC) drilling in its second round of drilling at its 100% owned Gunnawarra nickel cobalt project in North Queensland.
Twenty-eight holes were drilled at an average depth of 30 metres, with deepest hole drilled to 59 metres.
Samples have been submitted for assaying with results expected within two weeks.
Ark will apply these results, along with the first phase drilling results, to report the maiden Mineral Resource Estimate for the Gunnawarra project.
Commenting on the drilling program, Ark executive director Ben Emery said the second phase of RC drilling at Gunnawarra showed encouraging lateritic material on the western and southeastern margins of previous drilling.
Emery added: “Again, we are seeing the nickel-cobalt laterites at surface.
“We plan to fast track assays and use the results from this campaign, and the first, to report our maiden Mineral Resource Estimate.
“Gunnawarra is a highly prospective nickel asset with near-term development potential, close to infrastructure and in a top tier jurisdiction.
“As well as exploration works and delivering the maiden MRE, we are also forging ahead with other meaningful initiatives which we will report in the coming weeks.
“Ark is well-funded and in good shape.”
Earlier this year, the company reported impressive assay results confirming strong nickel and cobalt mineralisation at Gunnawarra on the 23 May 2022.
Significant intersections included:
- 28m at .73% Ni Eq from surface including 5m at 1.8% Ni Eq from 5m, including 2m of Co at .1% from 4m
- 42m at .76% Ni Eq from 2m including 19m at 1% Ni Eq from 6m
- 22m at 1% Ni Eq from 4m including 9m at 1.4% Ni Eq from 8m
- 28m at .7% Ni Eq from surface including 6m at 1.4% Ni Eq from 3m
- 11m at .84% Ni Eq from 2m including 2m at 1.2% Ni Eq from 5m
- 14m at 1.12% Ni Eq from 3m including 4m at 1.7% Ni Eq from 8m
