Australian company Auroch Minerals believes its Saints project is ‘nickel-rich’ coupled with elements including magnesium and nickel sulphide mineralizations.
Auroch Minerals has uncovered high-grade massive nickel sulphides at Saint Andrews channel of Saint nickel project in Western Australia.
The company’s motive is to firm up high-grade nickel from the Saints project which already contains existing resources of 1.05mn mt at 2pc nickel, 0.2pc copper for 21,400mt of nickel and around 1,600mt of copper.
Their drill program will commence next week at the highly prospective and untested Valdez Prospect of the Leinster Nickel Project.
Demand for nickel is quite strong driven by electric vehicles’ (EV) batteries in which nickel is needed as a basic raw material. Average global nickel price is at an 8-month high of around $15,000/mt. Falling production and high demand is supporting nickel prices.