The price of nickel may be affected by a discovery made by a company in Australia. Stratum Metals revealed it has identified several large-scale nickel prospects on part of its East Menzies Goldfield project in Western Australia following a review of historical geochemical sampling data.
Anomalous nickel soil geochemical results of up to 1,199ppm nickel were located over parts of the seven prospecting licences that were recently awarded to the organisation.
The findings come after the firm discovered three separate large electromagnetic anomalies ranging in size from 200 metres to 490 metres that suggest potential for nickel sulphide mineralisation.Managing director of Stratum Metals Martin Holland said: “I am very excited to have identified these further targets. The fact the highest grade result is significantly higher than the soil anomaly associated with the Sirius Nova deposit is very encouraging and we plan to fast track exploration in the area.”
The business is continuing to compile and review information associated with past exploration while at the same time considering the best approach to furthering its exploration in the area. Short-term work programmes are expected to incorporate additional soil sampling and electromagnetic surveys.Initially, Stratum Metals was attracted to the East Menzies Goldfield project by the significant gold potential in the area.
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