NIS - NickelSearch Limited

[System]

NickelSearch Limited holds a belt scale mineral tenement package in Western Australia located at the junction of the southern Yilgarn Craton margin and the Forrestania–Ravensthorpe Nickel Belt that is highly prospective for nickel sulphide deposits.

The Company's Carlingup Project includes four currently known nickel sulphide deposits at RAV1, RAV4, RAV4 West, and RAV8 spread along about 10 kilometres of strike length. These deposits contain shallow mineralisation open in most directions with an inferred resource at RAV8 of 13.2 million tonnes at 0.6% Ni for 75,100 tonnes of Ni and a combined exploration target at RAV1, RAV4 and RAV4 West of 300,000 tonnes at 0.9% Ni for 2,800 tonnes of Ni to 9,800,000 tonnes at 0.4% Ni for 41,200 tonnes of Ni. These exploration targets are based on information that is conceptual in nature noting that there has been insufficient exploration to estimate a mineral resource and that it is not certain if further exploration will result in the estimation of a mineral resource.

In addition, the Company’s John Ellis laterite nickel deposit contains 16.0 million tonnes at 0.56% Ni for 90,300 tonnes of Ni. Importantly the historical high grade RAV8 nickel mine which produced 16,100 tonnes of nickel at 3.45% demonstrates the potential for finding high-grade massive sulphide mineralisation at all the known deposits and virgin blind deposits yet to be discovered.

It is anticipated that NIS will list on the ASX during October 2021.

NickelSearch Limited • ASX:NiS

Australia’s emerging battery minerals explorer

nickelsearch.com

 

[Dona Ferentes]

Listing date	06 October 2021 1:00PM AEST ##
Company contact details	https://nickelsearch.com/ Ph: + 61 8 6184 4983
Principal Activities	Mineral Exploration
GICS industry group	TBA
Issue Price	AUD 0.20
Issue Type	Ordinary Fully Paid Shares
Security code	NIS
Capital to be Raised	$10,000,000
Expected offer close date	28 September 2021
Underwriter	Not underwritten. Discovery Capital Partners Pty Ltd (Lead Manager)

.... possibly still open, but maybe not

 

[Dona Ferentes]

NIS opened today on the ASX, a couple of weeks later but, hey, made it across the line.

First bids were at 22c, ran to 25c then back down again, and now trading around the 22c level

 

[greggles]

NIS considering bulk tonnage extraction method for its Carlingup Project following the release of assay results from last year's maiden RC drilling campaign. Grades look low to me but I'm no expert. I thought 2% and above were considered high grade for nickel.

Anyone have any thoughts on these results?

 

[Captain_Chaza]

I have entered the NIS in the 2023 C/Y Regatta

There is Nothing Like a Nickel Boom
She seems to be handling these Sea and Weather Conditions very well

Sailing the NIS------------One Week at a Time

Salute and Gods' Speed

 

[frugal.rock]

14 June 2023

NICKELSEARCH – MASSIVE VISUAL SULPHIDE INTERSECTED AT SEXTON

NickelSearch Limited (ASX: NIS) (NIS or the Company) is pleased to provide an update on diamond drilling underway at the Sexton Prospect at the Carlingup Nickel Sulphide Project (Carlingup) near Ravensthorpe in Western Australia.

The first of two diamond drillholes (DD) at Sexton has intersected further visual sulphides in the deeper target of the Lower Mineralised Horizon (LMH) (Figure 1).

NickelSearch’s Managing Director, Nicole Duncan, commented:
“Diamond drilling is ongoing at Sexton, one of our highly prospective targets at Carlingup.

This is the second
intersection of visual nickel mineralisation for this first diamond hole, which aims to confirm the presence of
thicker sulphide mineralisation down plunge at Sexton which we identified from our earlier RC drilling campaign.

“This additional intersection confirms the presence of massive sulphide mineralisation at depth and gives us significant optimism around our nickel sulphide exploration program. We eagerly look forward to assay results in the coming weeks.”

Figure 1a: Lower Mineralised Horizon intersection of nickeliferous sulphides

KEY HIGHLIGHTS

• Sexton Prospect diamond drillhole intersects massive sulphide mineralisation at depth in the Lower Mineralised Horizon (LMH).

• Multiple sulphide intersections range from 0.25 to 0.95 metres thick over a 9.85 metre interval.

• Deep target being tested identified as strong downhole electromagnetic (DHEM) conductor down- plunge of previous nickel sulphide intersections.

• Second diamond hole to follow at Sexton, approximately 60m along strike and planned depth of
250m

A bit leaky yesty...?

 

[frugal.rock]

ASX Announcement
14 June 2023

MASSIVE NICKEL SULPHIDE MINERALISATION EXTENDED AT SEXTON

KEY HIGHLIGHTS

▪ Massive sulphide mineralisation intersected in both the Upper Mineralised Horizon (UMH) and
Lower Mineralised Horizon (LMH) in two diamond drillholes at the Sexton Prospect.

▪ Multiple sulphide intersections previously reported over a 9.85 metre interval in diamond drill hole 23NRD028.

▪ Diamond drill hole 23NDD030 intersected massive sulphides in the same horizon, which
demonstrates the nickel mineralisation continues 60m further along strike, extending the total strike length to 250m.

▪ Assays from the two diamond holes at Sexton expected in early August, and follow-up downhole
electromagnetic (DHEM) surveys are now planned for these diamond holes to further test the
extent of the sulphide mineralisation, which exhibits a strong DHEM anomaly response.

▪ Diamond drilling underway at the high priority B1 Prospect, where recent reverse-circulation (RC) drilling intersected nickel sulphides (see announcement 25 May 2023).

 

[peter2]

This little nickel-sulphide explorer has been drilling holes for a while now and getting good Ni-S hits. Price tends to spike up after each report. More results are due this month and I'm selecting it for the Aug23 comp.

Unfortunately price falls down soon after each spike so I'm going to suggest they release the latest result on Aug 30th. It's all in the timing.

 

[Miner]

This little nickel-sulphide explorer has been drilling holes for a while now and getting good Ni-S hits. Price tends to spike up after each report. More results are due this month and I'm selecting it for the Aug23 comp.

Unfortunately price falls down soon after each spike so I'm going to suggest they release the latest result on Aug 30th. It's all in the timing.

@peter2 - you were so outstanding yesterday but looks like @Captain_Chaza did not like and blew up your game plan with NIS stumbling heavily
On a serious note, in your analysis, what made market to react so badly?

 

[peter2]

I have no idea why the market reacted to this news in this way. Massive Ni assays lead to massive selloff. Maybe the results didn't show something new or the market was expecting humungous Ni results. NIS is at a very early stage of exploration.

Prior to today NIS was very thinly traded and showing huge gaps in price. It only takes one large seller to thump the price down quickly.

 

[Miner]

I have no idea why the market reacted to this news in this way. Massive Ni assays lead to massive selloff. Maybe the results didn't show something new or the market was expecting humungous Ni results. NIS is at a very early stage of exploration.

Prior to today NIS was very thinly traded and showing huge gaps in price. It only takes one large seller to thump the price down quickly.

@Miner suspects the market was expecting some gold nuggets on the assay

 

[Captain_Chaza]

@Miner suspects the market was expecting some gold nuggets on the assay

I think you are wrong there Miner
Nobody drills for Gold these days unless they are already locked into This BAD IDEA
IMHO: The Age of Pet Rocks is over

 

[sptrawler]

It all depends on contained nickel, but it does sound like they have a sizeable resource, developing both resources would stretch them so it will be interesting to see whether it becomes a sell off, a joint venture, or a owner development.
A long way to go, so an interesting specky.

 

[Miner]

NIS- WOULD IT RISE ?

 

[peter2]

Price spikes +100% and more after news that Allkem is going to look at NIS's lithium potential. The NIS nickel project lies a mere 10km from Allkem's Mt Cattlin lithium processing plant.

My NIS sell order that had been in the market for a few weeks was taken out quickly and I've missed out on the +100%. Darn.

 

[Dona Ferentes]

I have no idea why the market reacted to this news in this way.

NIS up 93 per cent today

ALLKEM TECHNICAL COLLABORATION ON LITHIUM POTENTIAL AT CARLINUP
Key Highlights:
- Technical collaboration with Allkem Limited (ASX:AKE), owner and operator of the Mt Cattlin lithium mine, 10km from the Carlingup Nickel Project.
- Collaboration follows AKE’s review of existing NIS lithium datasets, including rock chip samples, soil sampling and review of geophysical surveys.
- Under the guidance of AKE’s lithium geologists, NIS to undertake additional rock chip sampling and stream sediment sampling to refine high-priority lithium target areas.
- AKE’s Mt Cattlin lithium operations produced 131kt of spodumene concentrate in FY2023, announced a 4-5 year mine life extension via open-pit methods, and have commenced studies for an underground mining option.

Edit:
and the interday had more conviction than the usual whoosh n taper.

 

[peter2]

Makes sense as AKE's Mt Cattlin lithium processing plant is only 10km away. Would be good for NIS to grab a royalty from AKE to fund their Ni-S resource exploration.

Many of these mining companies with small resources need to consider getting their ore to local processing plants for a royalty. They've got no hope of constructing processing plant themselves. The Gov't must provide incentives to improve productivity. Unfortunately company CEOs are too comfortable lining their own pockets at the shareholders expense to consider more productive systems (eg consolidations, M&A, joint ventures ).

 

[Captain_Chaza]

I am Shocked to hear that YOU with all your experience still Waits in a Queue

It is Foolhardy in either direction IMHO N or S
Have you tried using ALERTS ?
That is what they were invented for

Salute and Gods' Speed

 

[Dona Ferentes]

getting excited about lithium... but there's a bit of work to be done. They've only just begun (talking about it).
.
Assays over 5% Lithium Oxide (Li2O) at Carlingup
Key Highlights:
• Lithium confirmed from assays of pegmatites located on NickelSearch’s Carlingup Project.
• Multiple grab samples assayed, highlights include:
o NSR04389 - 5.19% Li2O, and
o NSR04388 - 4.99% Li2O.
• NickelSearch collected grab samples from a quarry area on its tenements, where multiple instances of spodumene-bearing pegmatites were observed in surface stockpiles.
• NickelSearch is collaborating with Allkem Limited (ASX:AKE) to advance lithium exploration on its Carlingup tenements. Allkem is the owner and operator of the Mt Cattlin lithium mine, 10km from NickelSearch’s Carlingup Project. Mt Cattlin’s Ore Reserves are 7.1Mt at 1.20% Li2O.
• Firm commitments to raise $1.2M to fund an accelerated lithium exploration strategy.
.
money came in at $0.045
.
. Now 5.4c with a bit of a jump then retrace on the above Ann.
... since listing

.
NickelSearch is in the process of agreeing next steps with the operator of the quarry, and with Allkem to negotiate for consent and compensation before a formal exploration program can commence.

In the meantime, the company has obtained a new 30-day access permit issued by a WA Mining Warden to re-enter the quarry, and further rock chip sampling and geological mapping is now underway, with stream sediment sampling and additional soil sampling to continue across the Carlingup tenements.

“There is a lot of work ahead. The Mt Cattlin geologists continue to share their technical expertise on greenfield lithium exploration in the Ravensthorpe area,” MD Nicole Duncan said.
.
Allkem recently flagged latent capacity at Mt Cattlin to potentially toll-treat third party product – which could bode well for NickelSearch if Carlingup’s lithium potential is confirmed.
.