HCY halcyon group ltd

high priority nickel sulphide target requires furt

  1. 2,036 Posts.
    Anybody know when the results from the current drill program and the planned geophysical survey will be
    made available? And what the $$$$ value could be?


    The Directors of Halcyon Group Ltd (ASX:HCY) are pleased to announce that the recent drill testing of the Company’s off-hole conductor at the Bardoc Project intersected sulphides with assays of up to 0.1% copper. A down-hole electromagnetic (DHEM)
    survey of the drill hole has returned a stronger off-hole response than the previous conductor. The company regards this as an extension of the high priority nickel
    sulphide target and drilling to test this zone has already commenced.
    The follow-up drill hole will be adjacent to the last line of the original ground transient electromagnetic (TEM) coverage on this part of the basal contact, in which there is an EM anomaly that is still open along strike for 1.1 kilometres. The TEM survey over the entire 13kms of the basal contact with the “B-Field” probe
    will commence today and will initially focus on the area currently being drilled.
    This survey will see an additional 34 line kilometres of TEM coverage, which is more
    than double that of the previously survey, significantly increasing the chance of a nickel
    sulphide discovery. Upon completion of the TEM program the results are likely to
    generate new targets that will be ready to drill test in late February.
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Currently unlisted public company.

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