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Nickelx Ltd ( (AU:SMX) ) has shared an update.
Strata Minerals has acquired a strategic tenement immediately north of its Zelica Gold Project, extending the interpreted gold-mineralised corridor to about 9.5km and reinforcing the prospect of a district- or camp-scale system in the Eastern Goldfields. The new ground is considered highly prospective yet underexplored, covering extensions of key gold-bearing structures and offering multiple untested targets that could deliver repeat discoveries along strike.
The company has also completed a Phase 2 reverse circulation drilling program at Zelica, with 17 holes drilled for 2,209 metres to test depth and strike extensions of a 1km shallow high-grade zone that remains open. Building on a maiden program where 22 of 23 holes hit significant gold mineralisation, the latest drilling is aimed at rapidly expanding known mineralisation and supporting a maiden JORC-compliant resource, with assay results expected in the near term and potential to accelerate development options.
The most recent analyst rating on (AU:SMX) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Nickelx Ltd stock, see the AU:SMX Stock Forecast page.
More about Nickelx Ltd
Strata Minerals Limited is an Australian gold exploration company focused on its 100%-owned Zelica Gold Project in Western Australia’s Eastern Goldfields, a region that hosts multiple plus-one-million-ounce deposits. The project sits on a granted mining licence with access to existing infrastructure and nearby processing mills, positioning the company to potentially advance a low-capex development pathway.
Average Trading Volume: 914,417
Technical Sentiment Signal: Sell
Current Market Cap: A$6.08M
Learn more about SMX stock on TipRanks’ Stock Analysis page.