Leeuwin flags ‘major system’ after drilling up to 2.56pc nickel along 2km trend at William Lake

• Drilling returns 6.5m at 2.56% nickel from 439.2m at William Lake
• Project sits within world-class Thompson nickel belt in Canada
• Assays are also pending at the company’s Cross Lake lithium project

New drilling results, including a highlight of 6.5m at 2.56% nickel, indicate continuous high-grade nickel sulphides over a 2km (and growing) trend at Leeuwin Metals’ William Lake project in Canada.

The company is exploring for high-grade nickel, copper and PGE sulphides at William Lake within the world class Thompson Nickel Belt, where deposits grade in the 1-2% range.

For context, most of the world’s famous nickel sulphide fields are around the 1% mark.

Given the desirability of these Class 1 nickel sulphide deposits in the context of the green energy transition, Leeuwin is in an ideal position to capitalise at William Lake.

The drilling results validate the project’s status as a large-scale system, Leeuwin Metals (ASX:LM1) MD Christopher Piggott says.

“Not only do they demonstrate the high-grade mineralisation and confirm the scale from Leeuwin’s drilling, with two holes drilled 2km apart, it has revealed considerable exploration upside.

“Coupled with historical drilling results, these new findings provide further evidence of a significant project.

“With Down Hole Electromagnetic (DHEM) data compilation underway and additional assays outstanding, we look forward to updating the market with results.”

Mineralisation open in all directions

Both recent drilling (21.9m at 1.02% nickel in WL23-367) and historical data (7.56m at 1% nickel at WL95-87) indicate a continuity of high-grade nickel sulphide mineralisation along a trend of over 2km at the W56 target, with mineralisation remaining open in all directions.

Drill hole WL23-365 returned a notable intercept at the W56 prospect of 6.5m at 2.56% nickel from 439.2m including:

• 0.8m at 4.24% nickel from 439.2m;
• 1.6m at 3.38% nickel from 442m; and
• 1m at 2.7% nickel from 444.7m.

Leeuwin is confident the most northern and southern holes of the project hold significant exploration opportunities and that high-grade nickel mineralisation remains open.

Assays are pending for an additional five holes at W56.

Meanwhile, the lithium hunt continues

With the William Lake drill program completed, the company will now be focusing additional resources at the Cross Lake lithium project which is highly prospective for Lithium-Caesium-Tantalum (LCT) type pegmatites.

The project also covers 2,000km2+ within the Cross Lake greenstone belt with previous drilling intercepting spodumene bearing pegmatites with grades of +1% Li2O.

Recent results from four drill holes reported on 21 August 2023 delivered high-grade lithium intercepts up to 1.75% Li2O, with assays from an additional three drill holes pending.

Leeuwin is now planning to commence field activities at Cross Lake in Q3 CY2023.

This article was developed in collaboration with Leeuwin Metals, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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