The Fraser Range near Norseman has yet again cemented itself as an exploration hospot, with junior base metals explorer Classic Minerals shares soaring on the ASX today on news of a substantial new discovery.
Classic Minerals announced today that drilling at its Fraser Range tenements near Norsemen had uncovered a large nickel-copper mineralised horizon close to surface.
The company said it had intersected thick zones of visible nickel and copper sulphides up to 23 metres wide at shallow depth.
At close of trade today, Classic Minerals shares were up 85 per cent, at 13 cents.
Managing director Justin Doutch said the nickel-copper deposit appeared to be substantial.
“Clearly the Fraser Range is one of the hottest exploration addresses in Australia right now and we have proven up that we have the right rocks for a nickel and copper discovery,” Mr Doutch said in a statement.
“We have only just kicked off this current round of drilling, and given the immediate results have mobilised a diamond drill rig as we look to test the width and depth extent of Mammoth over the coming months.”
Classic Minerals listed on the ASX in May this year, while its tenements are located around 40 kilometres north of Sirius Resources’ Nova deposit.
