RC drilling in the largely untested Broonhill area, some 1.4km to the north of T5, encountered 12m of mostly disseminated nickel-copper sulphides, but with 2m of basal massive sulphides, interpreted as the same pyroxenite basal unit as the T5 sulphides

 

The sulphides start at about 300m, with the basal zone at 326m.

 

Estrella said the intercept had all the hallmarks of the 2019 hole that assayed returned 6m at 1% nickel and 0.8% copper that led to the deeper T5 discovery.

 

The company says the basal contact appears to be mineralised over more than 2km between T5 and Broonhill. 

 

Managing director Chris Daws said the was excited by the intersection given it was so reminiscent of the 2019 drilling, and was encouraged by the potential to find massive sulphides deeper at Broonhill.

 

Its modelling had suggested the Broonhill areas was highly prospective, and he said the vectored exploration model was proving effective.

 

The hole will now be cased for downhole geophysics and a diamond tail will then be completed.

 

Estrella shares were up 16% in early trade to A4.2c, valuing the explorer at $42 million.

 

The stock has traded between 3.2-19c over the past year.

 

The junior has about $7.5 million cash following a mid-year raising at 4c.