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Nickel X’s wholly-owned Biranup project is an early-stage nickel-copper-cobalt and gold project located in the north-eastern Albany-Fraser belt, approximately 350km north-east of Kalgoorlie. The project offers good potential to host economic nickel-copper-cobalt and gold mineralisation across its six granted exploration licences, which combine to cover a total area of 342km².
The southwestern project boundary is less than 10km from the globally significant Tropicana gold mine, which is a joint venture between AngloGold Ashanti Limited (70%) and IGO Limited (30%).
The Albany-Fraser belt is a highly prospective region which, in addition to Tropicana, hosts the Nova-Bollinger magmatic nickel-copper sulphide system as well as a number of recent discoveries such as the Silver Knight deposit by the Creasy Group and Legend Mining’s Mawson discovery.
The Fire Dragon and Silver Dragon nickel targets, were identified through SPECTREM airborne electromagnetic surveys, gravity and magnetic data re-processing, moving loop electromagnetic surveys, soil and auger sampling, and limited drilling. Historic drilling at Fire Dragon has intersected mafic rock, with discrete zones of semi-massive to massive sulphides. Silver Dragon is virtually untested by drilling, receiving only a single hole. The results of this drilling were encouraging, intersecting mafic-ultramafic rocks.
The Black Dragon and Red Dragon gold targets are located along a 12km corridor which hosts a 9km × 3km gold-in-soil anomaly first identified by historic work conducted by IGO and AngloGold Ashanti. The area has returned a series of drill results and rock chip samples with elevated levels of gold.
In addition to these high-priority targets a further 16 anomalous targets have been identified through the use of SPECTREM which is a fixed-wing time-domain airborne electromagnetic survey. These targets are yet to be tested with any historical drilling and provide the Company with further growth prospects within the Biranup project.
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