Auroch Minerals pinpoints high priority drill target following major survey at Nepean Nickel Project, shares rise

Auroch Minerals Ltd’s (ASX:AOU) latest moving-loop electromagnetic (MLEM) survey has identified and delineated a strongly conductive body at its Nepean Nickel Project in Western Australia. The major survey, conducted over Auroch’s 80%-owned nickel play, uncovered the discrete conductor around 1.8 kilometres south of the historical high-grade Nepean nickel sulphide mine. Promisingly, the modelled electromagnetic (EM) plate boasts strong conductance, ranging between 5,000 and 15,000S: the typical conductance range of well-developed massive to semi-massive sulphide mineralisation. This is key because massive sulphide bodies rich in iron, nickel and copper will typically have a strong conductive response. Auroch intends to explore the conductor’s potential as soon as possible, with three drill holes, ranging between 150 and 250 metres in depth, planned to test the target immediately. Shares higher AOU shares have been up as much as 15.2% following the news, trading at 19 cents per share this morning. Meanwhile, preparations continue ahead of the maiden Nepean Deeps drilling program, slated to kick off later this month.  “Great indication” of project’s potential Auroch Minerals managing director Aidan Platel said: “The purpose of the extensive high-powered ground MLEM survey was to quickly cover a larger portion of the 10 kilometres of Nepean strike in order to prioritise smaller areas for follow-up exploration and subsequent drilling. “The MLEM survey was successful in doing exactly that, identifying several conductive bodies that warrant follow-up exploration. “In particular, one of these identified conductors is of immense interest, as its high conductivity and discrete size are typical of an EM response caused by well-developed nickel sulphide mineralisation. “The location of this strong conductor coincident with an aeromagnetic anomaly and along strike from the historic high-grade Nepean nickel sulphide mine, in an area that has never been drilled before, significantly add to the high potential of this exciting drill target. “The reverse circulation (RC) drill rig is already on-site at Nepean, drilling the second phase of regional aeromagnetic targets, so we are in an ideal position to redirect the rig to test this new high-priority target immediately. “We knew that much of the Nepean strike was underexplored and this result, discovered approximately 1.8 kilometres south of the historic mine, is a great indication of the potential of this project.” The MLEM survey At Nepean, Auroch’s MLEM survey was used as a first-pass exploration exercise that aimed to cover a large portion of the Nepean strike length and detect any untested conductive units. The high-powered survey kicked off in late April and finished in late June after sporadic wet weather and equipment breakdowns delayed progress. Notably, the survey was also extended and infilled in places of interest in order to better define areas of interest. One key aspect of Nepean’s newest conductive target is its location: there are no historical drill holes in the vicinity, meaning Auroch is gearing up to explore uncharted territory. What’s more, the survey indicates the modelled conductor is relatively shallow. It’s estimated to lie just around 60 metres below the surface with a 120-metres strike width. Specifically, the dip and plunge of the conductive body is consistent with the orientation of the regional stratigraphy. Meanwhile, the MLEM survey also pinpointed a second conductor 600 metres to the east of the main ultramafic strike. This broad conductor is weaker in strength at 1,500-2,000S, with a much longer modelled strike length totalling 1,000 metres. Unfortunately, there is no magnetic feature present in this area that would support an ultramafic host unit. As such, the conductor is not considered a high priority target. Nevertheless, Auroch intends to conduct further work to better understand the geology in this area. What’s next? The results of the completed MLEM survey are now being modelled in conjunction with the company’s recent drilling data — particularly the regional aircore (AC) drilling program, which was completed in February. Beyond that, a second RC drilling campaign, which took off in mid-June, is currently underway. The program continues to test aeromagnetic anomalies along the Nepean ultramafic strike that have not yet been drilled. Auroch’s RC activity will cover 18 drill holes and around 2,500 metres of ground, incorporating the three holes which have been coordinated to test the newest conductor. The program will lead into the maiden drilling campaign at Nepean Deeps. Meanwhile, Auroch is currently waiting on results for the recent RC program at the Leinster Nickel Project, which targeted the Woodwind, Firefly and Brass prospects. The assay and down-hole electromagnetic results will provide critical information as the company plans the next phase of exploration at Leinster.