The market sat up and took notice of the fledgling company late last year when it hit high-grade nickel at the Quicksilver project near Hyden in Western Australia’s southwest.
A hit of 13m at 2% nickel and 0.1% cobalt from 37m revved the company’s share price up, sending it to as high as A$1.27 (from an IPO issue price of 20c in August 2017).
More recent drilling extended the strike length of the discovery to 3km.
Putt assured attendees at an Investor Insight event last week that Quicksilver was not a laterite nickel deposit.
The company believes there is an oxide zone at the top, but there could be something more lucrative underneath.