Drilling at the newly named Mammoth target – formerly known as A1 – hit thick zones of nickel and copper sulphides in the first seven holes with pentlandite and chalcopyrite visible.

One hole intersected a 16m-thick zone of nickel-copper mineralisation from 32m, containing 0.21% nickel and 0.18% copper, including a 1m sulphide-rich intersection of matrix sulphides grading 1.4% copper and 0.3 nickel and 3m at 0.5% nickel.

Assays are pending for the thickest intersection of 23m of disseminated sulphides containing 2m of matrix sulphides from 60m.

Mineralisation is open along strike and at depth.

Classic said the discovery represented a new target-style of magmatic nickel-copper mineralisation in the Fraser Range.

“This appears to be a substantial nickel-copper deposit that’s delivering a lot of disseminated sulphides at width and close to surface,” Classic managing director Justin Doutch said.

“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.

“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.”

The current program will also test the Alpha copper target and A8 target.

Classic’s Fraser Range project is only 40km from Sirius Resources’ Nova-Bollinger nickel-copper discovery.

Shares in the company, which were only reinstated to trading in the last 30 minutes of the session, surged more than 85% or A6c to 13c.

Classic listed on the Australian Securities Exchange in May.