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DMC Mining hone in high-priority nickel targets

10 March 2022
ASX: DMM
Rueben Hale

DMC Mining employed a high-resolution Xcite heliborne survey returning several high priority conductivity anomalies associated with buried komatiite ultramafic sequences at the Ravensthorpe Nickel Project in Western Australia.

The promising exploration unfolds as nickel futures top the US$100,000 mark for the first time and almost tripled in value during Tuesday and Wednesday sessions as Western sanctions against Russia over its invasion of Ukraine sparked concerns over the metal supply.

The unprecedented move in the nickel market led the London Metal Exchange to halt trading and noticed that it’s unlikely to reopen before Friday.

Wasting little time, DMC will be reviewing 552-line kilometres of over 100-metre spaced airborne EM and magnetics to deliver a detailed map of drill-ready nickel targets.

“We are very excited by the number of high priority nickel sulphide targets identified from the survey,” executive chairman David Sumich said.

“The results highlight the tremendous potential of this project.”

The next steps for the company are planning fieldwork on the ground to test the priority targets identified.

The work will include a field visit to ground-truth the anomalies and assess exploration logistics.

A geochemical sampling program and ground EM geophysics will then test the anomalies and advance the targets to drill testing.

Diamond drilling will follow the geochemical and ground geochemical surveys.

DMM’s Australian Stock-Exchange-Listed share price was trading at 13.5c (7:39 am UTC+ 8 hours).

COMPANY OVERVIEW

DMC Mining is a dedicated nickel sulphide explorer in Western Australia. The large tenement holding (~940km2 ) throughout the Fraser Range and at Ravensthorpe, located at the margins of the Yilgarn Craton where numerous world class deposits have been discovered. Although an explorer, DMC provide investors with excellent exposure to the growing demand for EV batteries. Debuted on the ASX in late 2021, the company is focused on delivering on its exploration programmes and providing tangible results for investors. Our modern approach to nickel exploration will result in a more streamlined and cost-efficient exploration process that will ultimately deliver higher returns for investors

COMPANY INFORMATION

ASX: DMM

Website

https://www.dmcmining.com.au/
https://www2.asx.com.au/markets/company/dmm

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