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Nickelx Ltd ( (AU:SMX) ) has issued an update.
Strata Minerals has commenced a Phase 2 reverse circulation drilling program at its Zelica Gold Project in Western Australia, following a successful maiden campaign that intersected significant shallow high-grade oxide gold in 22 of 23 holes. The new program will comprise about 20 holes for roughly 2,500 metres, primarily targeting depth extensions of known mineralisation and some infill drilling to support a maiden JORC-compliant Mineral Resource Estimate.
Gold mineralisation at Zelica has been delineated along a strike length of about one kilometre, remains open at depth and along strike, and is now part of a broader gold-mineralised corridor exceeding eight kilometres after the acquisition of the adjacent Zelica South Project. The accelerated drilling and resource work are intended to establish a solid foundation for project evaluation and could materially enhance Strata Minerals’ resource base and development options in a well-serviced gold-producing region.
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 ASX-listed exploration company focused on gold projects in Western Australia. Its flagship asset is the 100%-owned Zelica Gold Project, located on a granted mining licence within trucking distance of several processing mills and near multiple deposits exceeding one million ounces, positioning the company in a well-endowed gold district.
Average Trading Volume: 937,142
Technical Sentiment Signal: Hold
Current Market Cap: A$6.72M
Find detailed analytics on SMX stock on TipRanks’ Stock Analysis page.