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Nickelx Ltd ( (AU:SMX) ) has issued an update.
Strata Minerals Limited will restart drilling at its Zelica Gold Project in Western Australia, having secured a rig for a second-phase reverse circulation program of about 20 holes totalling 2,500 metres. The campaign follows a maiden program that delineated near-surface high-grade gold mineralisation over roughly 1km of strike, with notable shallow intercepts and mineralisation remaining open at depth and along strike.
The Phase 2 work will focus on step-out drilling to test depth extensions of known gold zones and infill drilling designed to fast-track a JORC-compliant maiden mineral resource estimate. With the recent acquisition of the adjacent Zelica South Project extending the prospective corridor to more than 8km on a granted mining lease, the program positions Strata to assess near-term mining options and potentially scale up its footprint in a well-endowed gold district.
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 the Yundamindra District between Leonora and Laverton in Western Australia. The project sits on a granted mining licence within trucking distance of multiple large gold deposits and processing mills, giving it strong infrastructure access and potential options for future mining and ore toll-treatment routes.
Average Trading Volume: 969,960
Technical Sentiment Signal: Hold
Current Market Cap: A$7.68M
For a thorough assessment of SMX stock, go to TipRanks’ Stock Analysis page.