- Shares in Dynamic Metals (DYM) skyrocket after the company reports “thick, high-grade” nickel hits from its Widgiemooltha project in Western Australia
- The results come from the first five holes drilled at the Dordie Far West (DFW) prospect in the area, returning up to 1.86 per cent nickel from 27 metres downhole
- Dynamic says the nickel widths and grades compare “favourably” with historical drilling, confirming and enhancing the potential for mineralisation in the area
- Managing Director Karen Wellman says the company will now prioritise a follow-up drilling campaign given the “excellent” start to exploration at DFW
- DYM shares are up 57.14 per cent to 22 cents at 11:04 am AEDT
Shares in Dynamic Metals (DYM) have skyrocketed after the company reported “thick, high-grade” nickel hits from its Widgiemooltha project in Western Australia.
The results come from the first five holes drilled at the the project’s Dordie Far West (DFW) prospect, nearby where Mincor Resources (MCR) found anomalous nickel in the late 2000s.
Dynamic’s drilling work struck a 15-metre intersection at 1.86 per cent nickel from 27 metres downhole, including a six-metre zone at 2.4 per cent nickel. Other results include 15 metres at 1.11 per cent nickel from 30 metres and 12 metres at 1.58 per cent nickel from 48 metres.
The company said the nickel widths and grades compared “favourably” with historical drilling, confirming and enhancing the potential for mineralisation in the area.
“Returning thick and high-grade nickel intersections from our first five holes is an outstanding result from our maiden drill program at DFW,” Dynamic Manager Director Karen Wellman said.
“This is an excellent start to our first exploration campaign, and we will prioritise our follow-up drill program, with an aim to further extend these intercepts at the Widgiemooltha project.”
The company said it had four fully-permitted drilling programs scheduled to run across Widgiemooltha during the first half of 2023.
Additionally, Dynamic has made plans to submit one-metre samples from three-metre composite intercepts in the DFW area for further assaying. The company will use the results from these smaller samples to update the geological model at the prospect to plan the next phase of drilling.
Meanwhile, an aircore rig is currently drilling at Dynamic’s Lake Percy project in WA, with the company hoping to obtain fresh rock samples for geochemical analysis in areas of interest for nickel mineralisation.
DYM shares are up 57.14 per cent to 22 cents at 11:04 am AEDT.