Surface sampling undertaken at two small areas of weathered ultramafic rock at the Camp Oven prospect returned grades of up to 2.3% copper, 0.9% nickel, 0.7 grams per tonne platinum, 0.68gpt palladium and 0.4gpt gold, with the sampling carried out as follow up to a geochemical soil survey.
Initial drilling targeting an ultramafic unit at the Camp Oven prospect would begin later this month after heritage clearances for the prospect were recently obtained.
Independence is earning in a 70% interest in the nickel rights at Duketon.
“When our geologists were out there mapping, trying to explain the geochemical anomaly, they came across a little outcrop of rocks the size of a large dinner plate peeking out through the soil and noticed it had a bit of green colour to it,” Independence managing director Chris Bonwick told MiningNews.net.
The Duketon nickel JV is located just south of the WMC/Falcon Minerals Collurabbie nickel-platinum project, which Bonwick says, has preliminary geological similarities to the newly discovered prospect Camp Oven.
“It is interesting because the Collurabbie deposit seems to be quite different to the normal Kambalda or Cosmos style deposits which were formed on lava flows, whereas Collurabbie looks like its related to ultramafic intrusions and certainly that is the style we are targeting on South Boulder’s ground,” he said.
“Collurabbie has got quite high nickel-copper and platinoids where the Kambalda style is quite high in nickel but very low in copper. The rock-chips and soils are quite elevated in nickel and copper suggesting its [Camp Oven prospect] more Collurabbie style.”
Petrographic analysis of the samples was completed by CSIRO Exploration and Mining and was said to have indicated the presence of cumulus nickel and copper sulphides with an IP survey undertaken at 100m spacings reportedly delineating two anomalies with a combined strike length of 800m.
“It is suggesting potentially a new nickel field in that part of the world. It has got high copper and nickel platinoids which is great, you get quite high by-product credits, and it really hasn’t been explored properly to this point.
Late last month South Boulder said it had increased its landholding at Duketon by more than 100sq.km after receiving the priority for the grant of two exploration licences on Duketon greenstone belt. The licences were subject to a 2% net smelter royalty.
Investors reacted positively to the announcement with shares in South Boulder closing up more than 25% or 3.5c to 17c. Shares in Independence closed off 1c at $1.33.
South Boulder shares had cooled in morning trade, off 1.5c, to 15.5c while Independence shares were trading up 3c to $1.36.
