Botswana Metals (ASX:BML) has revealed that the latest drilling at Maibele North has discovered a new zone of up to 19 metres of nickel sulphide mineralisation.
The discovery confirms the continuation of the Maibele North mineralisation and indicates the potential for resources to significantly increase at the project.
The discovery is 400 metres from the Maibele North JORC Resource of 2.38 million tonnes at 0.72% nickel, 0.21% copper and 0.63g/t 4PGE+Au using a 0.3% nickel cut-off grade.
The company is currently drilling for nickel in Botswana through a free-carried joint venture with international mining company BCL Limited.
Botswana Metals already has an offtake agreement in place with BCL, and the BCL smelter is just 55 kilometres from Maibele North.
Highlights of the new intersections include:
- Mineralised intersection: 175.05 to 194.24 (19.19 metres)
Significant zones:
- 185m to 187.59m (2.59m) disseminated + sulphide stringers;
- 187.59m to 187.95m (0.36m) Moderate to strong sulphide stringers; and
- 187.95m to 189m (1.05m) disseminated sulphides.
Drilling to date
Earlier in the month BCL advised that it had added an additional 12 step out holes for 4350 metres of new drilling at the joint venture, which is on top of the 8000 metres currently in progress.
So far:
- A total of four holes of the 12 hole step out program have been completed to date.
- Three holes of the original 5 hole step out drill program have also been completed.
Analysis
The step out holes have discovered a new zone of mineralisation that has the potential to significantly increase the size of the Maibele North orebody.
The step-out program has demonstrated that the sulphide mineralised system extends well beyond the modelled extents of the current orebody.
These initial drill holes outside the current resource are potentially only just "scratching the surface" of the extent of mineralisation that might exist in the area.
Exploration news flow will flow fast in the near-term as BCL continues on with the 12,000 metre plus drilling program.
Assays from the lab will be highly anticipated.
This latest discovery shows Botswana Metals remains a company to watch.
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