New Risk • Feb 04
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 51% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (22% average weekly change). Earnings have declined by 55% per year over the past 5 years. Shareholders have been substantially diluted in the past year (51% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$6.92m market cap, or US$4.86m). Board Change • Feb 01
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. Independent Non-Executive Chairman Mark Connelly is the most experienced director on the board, commencing their role in 2023. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. New Risk • Dec 20
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 26% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (20% average weekly change). Earnings have declined by 55% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (AU$4.50m market cap, or US$2.98m). Minor Risk Shareholders have been diluted in the past year (26% increase in shares outstanding). Annuncio • Dec 09
Antares Metals Limited has filed a Follow-on Equity Offering in the amount of AUD 2.03 million. Antares Metals Limited has filed a Follow-on Equity Offering in the amount of AUD 2.03 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 253,750,000
Price\Range: AUD 0.008
Discount Per Security: AUD 0.00048
Transaction Features: Subsequent Direct Listing Annuncio • Oct 06
Antares Metals Limited, Annual General Meeting, Nov 25, 2025 Antares Metals Limited, Annual General Meeting, Nov 25, 2025. New Risk • Sep 25
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$3.4m free cash flow). Share price has been highly volatile over the past 3 months (22% average weekly change). Earnings have declined by 74% per year over the past 5 years. Shareholders have been substantially diluted in the past year (105% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$4.12m market cap, or US$2.72m). Minor Risk Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). New Risk • May 16
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$3.4m free cash flow). Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 74% per year over the past 5 years. Shareholders have been substantially diluted in the past year (141% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$5.66m market cap, or US$3.64m). New Risk • Mar 11
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$3.4m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$3.4m free cash flow). Earnings have declined by 74% per year over the past 5 years. Shareholders have been substantially diluted in the past year (139% increase in shares outstanding). Revenue is less than US$1m (AU$38k revenue, or US$24k). Market cap is less than US$10m (AU$4.59m market cap, or US$2.88m). Minor Risk Share price has been volatile over the past 3 months (12% average weekly change). New Risk • Jan 08
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 139% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 76% per year over the past 5 years. Shareholders have been substantially diluted in the past year (139% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$8.15m market cap, or US$5.08m). Minor Risk Share price has been volatile over the past 3 months (15% average weekly change). Board Change • Nov 01
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 1 experienced director. No highly experienced directors. Non-Executive Director Lynda Burnett is the most experienced director on the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Annuncio • Oct 25
NickelSearch Limited (ASX:NIS) acquired Capella Metals Limited for AUD 1.76 million NickelSearch Limited (ASX:NIS) agreed to acquire Capella Metals Limited for AUD 1.76 million on August 26, 2024. The consideration consists of 88.42 million common equity of NickelSearch Limited to be issued for common equity of Capella Metals Limited. As part of consideration, an undisclosed value is paid towards common equity of Capella Metals Limited.
The transaction is subject to consummation of due diligence investigation, consummation of private placement, subject to shareholder approval and third party approval needed. The expected completion of the transaction is August 26, 2024 to February 28, 2025.
NickelSearch Limited (ASX:NIS) completed the acquisition of Capella Metals Limited on October 24, 2024. Annuncio • Oct 07
NickelSearch Limited, Annual General Meeting, Nov 26, 2024 NickelSearch Limited, Annual General Meeting, Nov 26, 2024. New Risk • Sep 30
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 71% per year over the past 5 years. Shareholders have been substantially diluted in the past year (80% increase in shares outstanding). Revenue is less than US$1m (AU$42k revenue, or US$29k). Market cap is less than US$10m (AU$3.76m market cap, or US$2.61m). Minor Risks Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Share price has been volatile over the past 3 months (17% average weekly change). Annuncio • Sep 10
NickelSearch Limited has completed a Follow-on Equity Offering in the amount of AUD 0.557561 million. NickelSearch Limited has completed a Follow-on Equity Offering in the amount of AUD 0.557561 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 37,170,737
Price\Range: AUD 0.015
Discount Per Security: AUD 0.0009
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Annuncio • Aug 28
NickelSearch Limited has filed a Follow-on Equity Offering in the amount of AUD 0.557561 million. NickelSearch Limited has filed a Follow-on Equity Offering in the amount of AUD 0.557561 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 37,170,737
Price\Range: AUD 0.015
Discount Per Security: AUD 0.0009
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Reported Earnings • Mar 19
First half 2024 earnings released: AU$0.042 loss per share (vs AU$0.01 loss in 1H 2023) First half 2024 results: AU$0.042 loss per share (further deteriorated from AU$0.01 loss in 1H 2023). Net loss: AU$6.67m (loss widened AU$5.58m from 1H 2023). New Risk • Mar 15
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$4.9m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$4.9m free cash flow). Earnings have declined by 71% per year over the past 5 years. Shareholders have been substantially diluted in the past year (105% increase in shares outstanding). Revenue is less than US$1m (AU$88k revenue, or US$58k). Market cap is less than US$10m (AU$6.62m market cap, or US$4.36m). Minor Risk Share price has been volatile over the past 3 months (14% average weekly change). Annuncio • Jan 12
Nickelsearch Limited Announces Resignation of Danielle Muto as Joint Company Secretary NickelSearch Limited announced that Danielle Muto has resigned as joint company secretary due to other work commitments, effective immediately.The Board of NickelSearch would like to thank Mrs. Muto for her long-standing service to the Company and wish her all the best in her future endeavours. Her contribution to the Company during her tenure is both acknowledged and appreciated. Mrs. Foreman will remain in her position of Company Secretary of the Company, and for the purpose of ASX Listing Rule 12.6, the Company wishes to re-confirm that Mrs. Foreman will bethe person responsible for communications between the Company and the ASX. Annuncio • Dec 13
NickelSearch Limited (ASX:NIS) entered into a Binding Agreement to acquire Exploration Licenses E 74/719, E 74/744, E 74/743, E 74/762 and Prospecting License P 74/387 for AUD 1.4 million. NickelSearch Limited (ASX:NIS) entered into a Binding Agreement to acquire Exploration Licenses E 74/719, E 74/744, E 74/743, E 74/762 and Prospecting License P 74/387 for AUD 1.4 million on December 12, 2023. Under the terms of transaction, AUD 1.2 million of Upfront share consideration and AUD 0.25 million of Deferred share consideration will be paid. Board Change • Nov 29
Less than half of directors are independent There are 3 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. 1 independent director (2 non-independent directors). MD & Director Nicole Duncan is the most experienced director on the board, commencing their role in 2022. Independent Non-Executive Chair Mark Connelly was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Annuncio • Nov 24
NickelSearch Limited Announces Norm Taylor Resigns as A Non-Executive Director from the Board NickelSearch Limited announced that Norm Taylor has resigned as a non-executive director from the Board effective immediately. Norm Taylor steps down as a non-executive director but remains as a Special Advisor to the Board, as Norm continues to oversee critical Ravensthorpe stakeholder negotiations. New Risk • Oct 21
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 54% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$4.9m free cash flow). Share price has been highly volatile over the past 3 months (34% average weekly change). Earnings have declined by 45% per year over the past 5 years. Shareholders have been substantially diluted in the past year (54% increase in shares outstanding). Revenue is less than US$1m (AU$42k revenue, or US$26k). Market cap is less than US$10m (AU$8.18m market cap, or US$5.16m). Annuncio • Oct 20
Nickelsearch Limited Announces Resignation of Paul Bennett as Non Executive Director NickelSearch Limited announced that Paul Bennett has resigned as a non-executive director from the Board effective immediately. Annuncio • Oct 05
NickelSearch Limited, Annual General Meeting, Nov 20, 2023 NickelSearch Limited, Annual General Meeting, Nov 20, 2023. Reported Earnings • Oct 01
Full year 2023 earnings released: AU$0.02 loss per share (vs AU$0.022 loss in FY 2022) Full year 2023 results: AU$0.02 loss per share. Net loss: AU$2.08m (loss widened 10% from FY 2022). New Risk • Sep 25
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (35% average weekly change). Earnings have declined by 50% per year over the past 5 years. Revenue is less than US$1m (AU$22k revenue, or US$14k). Market cap is less than US$10m (AU$6.83m market cap, or US$4.40m). Minor Risks Less than 1 year of cash runway based on current free cash flow (-AU$4.8m). Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Shareholders have been diluted in the past year (34% increase in shares outstanding). New Risk • Sep 09
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (21% average weekly change). Earnings have declined by 50% per year over the past 5 years. Revenue is less than US$1m (AU$22k revenue, or US$14k). Market cap is less than US$10m (AU$4.88m market cap, or US$3.11m). Minor Risks Less than 1 year of cash runway based on current free cash flow (-AU$4.8m). Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Shareholders have been diluted in the past year (34% increase in shares outstanding). New Risk • Jul 13
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 20% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (20% average weekly change). Earnings have declined by 50% per year over the past 5 years. Revenue is less than US$1m (AU$22k revenue, or US$15k). Market cap is less than US$10m (AU$11.1m market cap, or US$7.57m). Minor Risks Less than 1 year of cash runway based on current free cash flow (-AU$4.8m). Shareholders have been diluted in the past year (34% increase in shares outstanding). New Risk • Jul 11
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 34% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 50% per year over the past 5 years. Revenue is less than US$1m (AU$22k revenue, or US$15k). Market cap is less than US$10m (AU$7.51m market cap, or US$5.01m). Minor Risks Less than 1 year of cash runway based on current free cash flow (-AU$4.8m). Share price has been volatile over the past 3 months (14% average weekly change). Shareholders have been diluted in the past year (34% increase in shares outstanding). Annuncio • May 19
NickelSearch Limited, Annual General Meeting, Jun 19, 2023 NickelSearch Limited, Annual General Meeting, Jun 19, 2023, at 09:00 W. Australia Standard Time. Location: Registered Office of the Company, Suite 14, 92 Walters Drive, Osborne Park Osborne Park Western Australia Australia Agenda: To consider Election of Director Mr Mark Connelly; to consider Election of Director Ms Lynda Burnett; to consider Approval to issue Director Options; to consider Approval to issue Underwriter Options; to consider Ratification of agreement to issue Lead Manager Options; and to consider other matters. Board Change • May 01
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. 1 highly experienced director. Independent Non-Executive Director Norm Taylor is the most experienced director on the board, commencing their role in 2004. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 10
First half 2023 earnings released: AU$0.01 loss per share (vs AU$0.014 loss in 1H 2022) First half 2023 results: AU$0.01 loss per share. Net loss: AU$1.09m (loss widened 1.1% from 1H 2022). Annuncio • Feb 08
NickelSearch Limited Announces Completion of Geochemical Targeting At B1 and Serendipity Greenfields Targets NickelSearch Limited announced that a soil sampling program has been completed across high priority greenfields exploration targets, B1 and Serendipity, within the Company's Carlingup Nickel Sulphide Project near Ravensthorpe, Western Australia. The soil sampling program will be used in combination with historical drill hole nickel sulphide intercepts and magnetic surveys to plan the maiden drill program, scheduled to commence in H1 CY2023. A field crew of staff from XM Logistics conducted the systematic soil sampling program over the Serendipity and B1 areas. The soil sampling program covers areas of strong magnetic response over the north-western end of the Cordingup Range trend and compliments historic nickel sulphide intercepts, including: RAVC0162: 6m at 1.0% Ni and 0.05% Co from 157m; and DDHB1010: 4.57m at 1.1% Ni and 0.06% Co from 193m. Only one historical RC drill hole has been drilled at Serendipity which failed to test the basal ultramafic contact. Given its size this target area is effectively untested. Recent mapping has identified that the magnetic highs coincide with thick ultramafic units, and the presence of banded iron formations locally means that there is an available sulphur source. These are some of the main ingredients for the production of nickel sulphides. This program completes the soils coverage on 100% NickelSearch-owned tenements and extends onto those owned by Medallion Metals where NickelSearch hold the rights to nickel, cobalt and platinum group metals. The samples have been dispatched to LabWest, with the results expected six to eight weeks from delivery. The results from these soils and the historic work will underpin maiden drill programs at B1 and Serendipity, in addition to high priority greenfields targets at Wadley, Lipple and John Ellis West. Annuncio • Feb 04
NickelSearch Limited Announces Nickel Sulphides Intersected at Regional Sexton Prospect NickelSearch Limited advised that a Reverse Circulation (RC) drill program has been successfully completed at the Company's Carlingup Nickel Sulphide Project near Ravensthorpe, Western Australia. Drilling focussed on geochemical and geophysical anomalies at three high priority target areas at Javelin,Sexton and RAV8 South. NickelSearch, advised by Newexco and with Strike Drilling as the drilling contractor, has successfully completed its ten- hole RC program, testing targets at Sexton, Javelin and RAV8 South. Ten holes were completed for 1,357m, with each 1m composite being sent for assay at Intertek. Results are expected in 4-6 weeks. The Sexton prospect is of interest due to a single historic intersection in hole RVD01015, which recorded 2.2m @ 1.2 % Ni and 0.17% Cu from 98.1m as well as anomalism from soil assays and magnetic surveys. Of the four holes targeting the Sexton area, three intersected Ni-bearing (pyrrhotite dominant) sulphides at the target horizon, including 6m of massive and matrix sulphides from 149m in 23NRC012 (assay results pending). The logging of this hole shows it is similar to RVD01015. The results of the DHEM and assays are eagerly awaited to plan drilling to follow the thickening nickel sulphide intervals. The drilling was planned based upon this apparent plunge and the previous hole RVD01015. Hole 23NRC009 intersected fresh massive nickel sulphides at a shallow depth of 39m, indicating that the mineralisation may outcrop further to the west. Hole 23NRC010 likely passed above the plunge, although it also intersected very different geology at the target depth to the other holes; a more layered-looking ultramafic body. Holes 23NRC011 and 23NRC012 both intersected the Ni-bearing mineralisation at the approximate target depth. Most holes were collared in basalt, with some having some siliciclastic sediment as well. A series of thin layers of komatiite and komatiitic basalt followed with a thin interval, typically only 1m, of disseminated to massive Ni-bearing sulphides at the base of these ultramafics immediately above a thick magnetite banded iron formation (BIF) unit. The main targets were immediately below the BIF, with 0 - 2m of ultramafic before 1 - 6m of massive and matrix nickel- bearing sulphides. The mineralisation was generally followed by another chert /BIF unit; meaning the nickel sulphides are sandwiched between two sediments. With the vein and quartz material, this possibly means some remobilisation has squeezed the sulphides into this location. Further ultramafics are present below this sediment. The "footwall" is variable with a variety of lithologies in the different holes including a detrital sandstone, felsic volcanics and further ultramafics, and further massive pyrite, chert, quartz veining. Mineralisation in the Carlingup area appears to form in distinct and relatively narrow channels, presumably eroded intothe underlying sediment as the magma flowed over it. The nickel sulphide mineralisation is therefore in the same plane as weakly to moderately conductive sulphidic sediments. The presence of a strong conductor within a broader weakly conductive horizon is what would be predicted by using this model of nickel-sulphide deposit formation. Five holes were drilled at Javelin to follow up on the DHEM conductors (plates) from the October drilling, and the broader geochemical anomalism in the area. Two holes were planned to intersect a high conductance plate of 18,000 S, which is consistent with the expected response of a massive sulphide body within a channel, while three holes tested areas of elevated soil geochemistry. The drilling showed either a number of layers, or one relatively thick layer, of pyrrhotite and pyrite with very little nickel detected. It appears that the high conductance plate was generated by the pyrrhotite. Annuncio • Dec 20
NickelSearch Limited Announces Drilling Commences on Dhem & Greenfields Targets NickelSearch Limited advise that drilling has commenced, testing high priority geochemical and geophysical targets at the Company's Carlingup Nickel Sulphide Project near Ravensthorpe, Western Australia. This Reverse Circulation (RC) program will be focussed on three high priority target areas at Javelin, Sexton and RAV8 South and has been planned so that any visual encouragement can be followed up quickly. The 1,500m RC drilling program will start by drilling directly into the very high conductive EM plate at Javelin, with an additional three holes testing extensions to mineralisation along strike. Drilling not completed before the Christmas break will resume in early January 2023. The Sexton Prospect has four holes planned to test the coincident geophysical and geochemical anomaly as well as confirming historical hole RVD015 that intercepted 2m @ 1.2% Ni and 0.17% Cu from 98m. Drilling at RAV8 South will test two overlapping EM plates to better understand how they line up with the lithological trend. Historical exploration work in the area identified one plate using moving-loop electromagnetics, and the airborne electromagnetics XciteTM survey conducted by the Company earlier this year defined the other. The EM plates do not align exactly with the predicted plunge of the local geology and therefore are unlikely to be sulphidic sediments at a contact. Selected holes will be set up for DHEM when a geophysical crew becomes available in early 2023. The Company has engaged Strike Drilling to provide an RC rig utilising their EnviroPod to test whether it can further reduce the footprint of RC drilling. The EnviroPod is a completely self-contained drill sump for the outside return and the sample cyclone. Annuncio • Dec 13
Nickelsearch Limited Announces Strong Dhem Targets Defined At Javelin Priority 1 Target NickelSearch Limited announced that outstanding DHEM results have been received at its Javelin target, identifying a strongly conductive plate just to the south of drill hole 22NRC002. The DHEM surveys were conducted following the completion of a short program of reverse- circulation (RC) drilling at the Javelin and RAV8 targets at the Company's Carlingup Nickel Sulphide Project (Carlingup) located near Ravensthorpe in Western Australia. RC Drill Program Overview: The Company engaged Three Rivers Drilling to drill four holes at the Javelin and RAV8 targets at Carlingup. Holes were sampled in their entirety and sent to SGS for assay, with the most prospective intervals flagged for priority analysis. A more extensive greenfield drill program will commence in coming weeks, through which the Company will drill at the priority DHEM plates defined at Javelin and test other regional greenfield targets defined through geochemistry and geophysics. Javelin: RC drilling at Javelin focused on two target areas identified as coincidental geochemical and geophysical anomalism. The first hole, 22NRC001, was drilled just beyond the target depth of 80m, and the second hole, 22NRC002, reached the target depth of 120m. 22NRC001 hit an anomalous intersection of 3m at 0.25% Nickel (Ni) within the transitional zone from 58m. While not significant, it does confirm that this unit is prospective for nickel sulphides. Visual logging of 22NRC002 identified two sulphide bearing horizons within basalts of disseminated to matrix and massive sulphides, with pyrite being the visually dominant species. These horizons were logged at 62- 66m and 84-90m downhole depth. Priority assays confirm visual logging with minor gold anomalism and 1m at 0.7% Ni from 93m. The DHEM surveys then conducted by NickelSearch at Javelin produced outstanding results, with several plates modelled. The largest plate measures about 200m x 150m with a conductance of around 2,000 Siemens (S), probably representing a lithological boundary. However, the large plate down plunge from massive sulphides returned a very high conductive source measuring up to 18,000 S, indicating that there is sulphidic mineralisation potentially extending at least 130m down plunge with a possible extension along strike. This is a high priority target for follow up drilling scheduled to commence imminently. Another plate just above it is coincidental to the disseminated to matrix sulphide mineralised horizon and produced a plate with a conductance of 10,000 S, itself a good indicator of sulphide mineralisation for follow up. Logging and priority assay results at Javelin show that this is an area with fertile ultramafics for nickel, and a good sulphur source available that warrants the immediate drill testing of the DHEM plates. RAV8: Drilling at RAV8 targeted possible structurally remobilised sulphides associated with a DHEM plate to the east (22NRC003) and extension of the main massive sulphide shoots south of the pit in an area of a weak DHEM plate (22NRC004). 22NRC003 was logged as mostly felsic volcanics with a couple of mafic dykes. One of these intrusives, from 120-123m, returned 3m at 0.56% Ni including 1m at 1% Ni at 121m which is interpreted as remobilised stringer nickel mineralisation. DHEM was unsuccessful in testing the original target in this hole as the pvc casing was blocked at 122m. The style of mineralisation encountered in this hole is consistent with other mineralisation at RAV8 and is an example of structural remobilisation that has occurred in this deposit. Drill hole 22NRC004 hit thick intervals of ultramafics but was stopped 40m short of target depth after hitting a structure that caused excessive water to enter the hole that could not be controlled. DHEM was inconclusive due to distance from target. This is still a valid target and will be redrilled as RC with a diamond tail to get past the structure. Geochemistry: The soils programs run over the Carlingup project in the past year have been reviewed by Dr Nigel Brand, a noted Geochemist with more than 25 years' experience, starting with WMC. He has identified nine (9) high priority and 15 medium priority nickel and VMS targets. This interpretation will be added to the NickelSearch geological database and will be used as part of the ongoing target ranking process. Further Work: Follow up drilling is planned and awaiting RC rig arrival. The program is planned to be approximately 1,500m from 10 holes. The priority target area is Javelin, plus the geochemical and geophysical targets on Sexton and RAV8 South, with Lipple and Wadley targets awaiting regulatory approvals for drilling. NickelSearch is pleased to have engaged the services of Strike Drilling for this program, through which the Company can trial the use of Strike's `Enviropod', a watertight, self-contained sump that is designed to capture the outside return and drill sample spoils and leave no water or soil contamination on the ground. This aligns well with NickelSearch's desire to keep its environmental footprint to a minimum. Annuncio • Oct 18
NickelSearch Limited Commences Drilling on Nickel Sulphide Targets at Carlingup NickelSearch Limited advised that drilling has commenced at the Company's Carlingup Nickel Project near Ravensthorpe, Western Australia. The Reverse Circulation (RC) drill program will initially test high priority nickel sulphide targets at RAV8, Sexton and Javelin that have been defined through the completion of geochemical and geophysical programs. The program will be subject to ongoing refinement based on visual drilling and assay results. The Company has engaged Three Rivers Drilling (TRD) to provide an RC rig for this initial drilling program. TRD has previously worked with NIS and therefore have a good understanding of the operating restrictions and ground conditions in the area, especially the use of above-ground sumps to catch all ground water lifted to surface by the drilling, minimising disturbance to the local environment. The program is initially planned to be two holes into each of the three priority areas. More holes are planned in each area, but these are dependent on the results from this initial program. The holes are planned to be between 80 and 260m deep and will be lined with pvc piping to ensure they stay open for follow up DHEM. The initial program is planned to be completed by the end of October 2022 and will be reviewed for follow up work on these and additional targets for commencement in the second half of November 2022 based on results. The Company is also pleased to announce that it has engaged the services of John Crossing of Compass Geological, a renowned Geological mapping expert, to conduct outcrop mapping on all tenements to which NickelSearch has access. This highly valuable exercise is underway and will add greatly to future targeting activities. Annuncio • Sep 23
NickelSearch Limited Announces Additional High Priority Greenfield Nickel Sulphide Targets Defined at Carlingup NickelSearch Limited announced that the full suite of multielement, ultra- fine soil assays previously announced as pending have now been received. This data, together with the results from the recently completed ground gravity survey, has enabled the Company to identify additional high priority greenfield exploration targets at the Company's wholly owned flagship Carlingup Nickel Sulphide Project (Carlingup or the Project), located in Ravensthorpe, Western Australia. Over the wet winter months, NickelSearch has continued its systematic targeting work aimed at discovery of high-grade, Komatiite-hosted nickel sulphide deposits. The targeting work has been enhanced with the recently received total of 2,715 assays for multielement, ultra-fine soil geochemical results covering most of the 100% owned tenement package and the results of the recently completed ground gravity survey. Integration of this new data and other primary targeting criteria such as high- resolution aeromagnetic data has identified two new greenfield exploration targets (Sprint and Relay) and enhanced an existing target at John Ellis West. All three highlighted greenfields targets occur in the Carling North Trend which also hosts the Lipple and Wadley targets (previously called John Ellis North and John Ellis South, respectively). This highly prospective corridor has a strike extent of 6km and is characterised by high-Mg komatiites with anomalous Kambalda (Ni/Cr*Cu/Zn) and Ni/Cr fertility ratio responses and PGMs indicative of nickel sulphides at depth. Surprisingly, previous exploration has been restricted to search for nickel laterite only and the few fences of drill holes that cross parts of the target areas were shallow, generally less than 30m in depth. The high priority standout greenfields targets and important targeting elements are: John Ellis West: A strong coincide nt Kambalda ratio, Ni/Cr and PGM geochemical soil anomaly is associated with a magnetic high feature suggesting a thickening of the ultramafic stratigraphy in the area, like RAV8, and may indicate an ultramafic channel facies. Interestingly the target is flanked by two north-west trending gravity linear features. Sprint: A very strong discrete Kambalda ratio, Ni/Cr and PGM geochemical soil anomaly is associated with an antiformal fold closure seen in airborne magnetics and forms within a north-west structural corridor like RAV8. It is completely untested by previous exploration. Relay: A strong Ni/Cr and modest Kambalda ratio and PGM geochemical soil anomaly coincide with a pair of tight antiformal fold hinges. Like the Sprint target, they appear to form within a north-west trending gravity structural corridor which also passes through the Sexton and Javelin target areas to the south. The new John Ellis West, Sprint and Relay targets and association with southeast-trending structures and fold hinges is an exciting development for the Company. These anomalies are now high priority targets that warrant immediate follow-up work. An important observation of the structural setting of some world-class, komatiite-hosted nickel sulphide deposit such as Kambalda and Perseverance in Western Australia is the association with large domes or anticlines. Post-volcanic deformation events resulted in the progressive folding and shearing of the footwall contact, as well as the passive fold thickening of massive and disseminated sulphide orebodies. Massive sulphides were physically remobilised into multiple generations of fold hinges and shear zones. The role of the southeast-trending structures in nickel sulphide formation at Carlingup is currently poorly understood. It is possible these represent pre-existing structures that were exploited by the ultramafic komatiite magma and may be areas that preferentially form thicker channel facies environments favourable for nickel sulphide formation. If this is the case, then these structures combined with fold hinges constitute an important targeting element to assist target ranking and prioritisation across the Project. Carlingup Gravity Survey: A detailed ground gravity survey was completed across the Project, to complement the detailed airborne magnetic data, to better understand the regional geology and fundamental structures controlling nickel sulphide mineralisation. A total of 2,268 gravity stations were acquired in the recent survey by Atlas Geophysics Pty Ltd, plus 719 stations from a survey by Traka Resources in 2005 for a total of 2,987 stations covering an area of 14km². The stations were spaced 50m apart along 100m spaced N-S survey lines. The most striking feature observed in the data is that several southeast-trending structures are interpreted across the area and are supported by similar features on the airborne magnetic imagery. Interestingly, the southeast-plunging nickel sulphide deposit at RAV8 and RAV5 prospect occur closely associated with these structures. This relationship suggests the southeast structures are fundamentally important for the formation of nickel sulphide orebodies. Exploration - Next Steps: Program of Work application is well advanced, which will allow for the commencement of drill testing shortly at: Sexton to test a strong Kambalda ratio and PGM geochemical anomaly located east of the historical massive sulphide drill intersection of 2m at 1.2% Ni and 0.2% Cu, and RAV8 to test two separate DHEM conductor plates at the potential down plunge extensions at Shoot 1 and Shoot 3. A regional geological mapping program is currently being planned across the Project to improve the Company's understanding of the lithostratigraphic and structural framework of the entire Project area to improve geological targeting. This will assist in the Company's understanding of the role of the southeast-trending structures highlighted above. Program of Work applications are proceeding for priority target areas at Sexton, Javelin, B1 and Serendipity where the Company intends to drill in the coming months. Annuncio • Sep 20
NickelSearch Limited, Annual General Meeting, Nov 09, 2022 NickelSearch Limited, Annual General Meeting, Nov 09, 2022. Agenda: To consider election of Directors. Annuncio • Jul 19
NickelSearch Limited Announces Executive Appointments NickelSearch Limited announced high calibre additions to NickelSearch's technical and management team, considerably enhancing the Company's capacity to execute its nickel sulphide strategy at the Carlingup Nickel Project (Carlingup or the Project). Appointments: Exploration Manager - Andy Pearce. Mr. Pearce has over 18 years' experience as a geologist and exploration manager, in greenfields, brownfields exploration and near-mine operations around Australia and overseas. He brings a wealth of experience in exploration of nickel sulphides, having recently worked at Black Mountain Metals and Poseidon Nickel. Mr. Pearce's proven track record in planning, executing, and troubleshooting exploration campaigns, together with his ability to create and maintain strong relationships with a broad set of stakeholders, will be a significant asset to NickelSearch's technical team. Mr. Pearce holds a Master of Science (MSc) in Mining Geology from the Camborne School of Mines. He is a Member of the Society for Economic Geology; Member of the Australian Institute of Geoscientists; and Fellow of the Geological Society of London. Financial and Commercial Manager Tanya Newby Ms. Newby is a dedicated finance professional offering a wide variety of skills and expertise, and a desire to contribute to the growth and success of NickelSearch.Ms Newby brings over 25 years' experience in finance manager and CFO roles, most recently at BCI Minerals (ASX-listed industrial minerals business) where she was responsible for overseeing and developing the financefunction through periods of corporate growth and change. Ms. Newby holds a Bachelor of Commerce, from the University of Western Australia, and is a Member of the Institute of Chartered Accountants, Australia; Member of the Governance Institute of Australia; and Graduate Member of the Australian Institute of Company Directors. Annuncio • Jul 18
Peter Evans Steps Down as Chief Financial Officer of NickelSearch NickelSearch Limited announced that Mr. Peter Evans has stepped down as Chief Financial Officer, to pursue a career as a Non-executive Director. Mr. Evans made a valuable contribution to the Company in assisting NickelSearch through the IPO process and establishing the financial systems for the company, for which NickelSearch is immensely thankful. Annuncio • May 18
NickelSearch Limited Announces Multiple Exploration Targets Prioritized NickelSearch Limited announced that a portion of the ultra- fine soil assays previously announced as pending have now been received. This data, together with the results from other ongoing exploration activities, has enabled the Company to advance an integrated and systematic exploration targeting study for the Company's wholly owned Carlingup Project (Carlingup), located in Ravensthorpe, Western Australia. The key outcome of this study is the initial ranking and prioritisation of the exploration targets across Carlingup. NickelSearch is embarking on a modern, rigorous, and comprehensive exploration program across the entire tenement package. This is the first time this land package has been consolidated under one company. The Company has recently completed an integrated targeting study based on key ingredients for significant komatiite-hosted nickel sulphide deposits. This targeting work expands on the insights gained from an intensive nickel sulphide workshop conducted for NickelSearch by world renowned nickel specialist Tony Donaghy from CSA Global in late 2021. The target environment for the formation of nickel sulphide ores at Carlingup are ultramafic channel features. More specifically, where ultramafic flows have eroded sulphide-rich basement rocks, they provide the critical sulphur source for the formation of magmatic Ni-Cu-PGM deposits. A recently completed integrated and systematic nickel sulphide targeting study has: identified and prioritised over 30 greenfield exploration targets across the total Carlingup Nickel Project tenement package, with 11 Priority 1 targets, and defined a highly prospective mineralised corridor at Carlingup South between RAV8 and RAV5 over a strike extent of 9km, with three drill-ready targets, subject to receiving necessary approvals and conducive ground conditions. Targeting work has been enhanced by: recently received ultra fine soil assay results along the Carlingup South trend, returning highly anomalous Kambalda and Platinum Group Metals (PGM) responses which are indicative of komatiitic nickel sulphides at depth. Encouraging aircore assays, soil geochemistry and recent magnetic interpretation at John Ellis indicate a 2.2km strike of the prospective basal contact concealed beneath cover and mineralised laterite that is a high priority target for follow up drilling. Annuncio • Apr 28
NickelSearch Limited Announces Appointment of David Royle as Technical Director NickelSearch Limited announced that it has entered into an Executive Service Agreement for the appointment of Mr. David Royle, NickelSearch's Chair, to the position of Technical Director for a fixed term until 31 July 2022. The Executive Service Agreement confirms the role that David Royle has been performing in providing oversight and management of the Company's exploration activities at the Company's Carlingup Nickel Project (Carlingup). Term: The appointment will be on a part-time as required basis, for a 6-month term, from 1 February 2022 to 31 July 2022. Termination: The Company or Mr. Royle may terminate, without liability, for any reason, with or without cause, by giving 30 days advance written notice to the other party. Annuncio • Apr 22
NickelSearch Limited Announces Assay Results from Maiden RC Drill Program Completed in December 2021 NickelSearch Limited announced assay results from the maiden RC drill program completed in December 2021 and the completion of a second phase of resource infill and extension drilling (air core (AC) and RC) as well as metallurgical drilling (diamond, or DD) of the known nickel sulphide deposits at the Carlingup Nickel Project (Carlingup or the Project). In addition to previously reported remnant extensions to massive sulphide at Shoot 3: 5m at 2.5% Ni and Shoot 1: 5m at 1.0% Ni it is now confirmed from recently received assays that a very wide zone of disseminated nickel sulphide occurs to the west of Shoot 1 and the existing pit that will increase the size and confidence of the Mineral Resource estimate. The best intersections, occurring in drill holes NIS006 and NIS005, were 76 and 56 metre thick intervals respectively of multiple stacked zones of nickel mineralisation, demonstrating bulk tonnage potential including. In addition to the results of the RC drilling, NickelSearch cut and resampled 8 historical diamond core holes stored at RAV8 to establish confidence in the current resource through new assays and density measurements. The sampling exercise had the added advantage to help establish the potential grades of lower grade disseminated nickel sulphide mineralisation that the Company believes is located on various stockpiles at the RAV8 mine site and available for early production. Locating and quantifying stockpile material will be undertaken in Third Quarter CY2022. Diamond drilling at RAV8 has also been completed, where the Company drilled three holes for 377m. Analysis of core, including scanning by Minalyze Pty Ltd, is in progress and will provide density, structural, and additional resource data prior to metallurgical sample selection. Annuncio • Mar 10
NickelSearch Limited announces the completion of its maiden AC drill program and commencement of RC drilling and diamond drilling within its wholly owned Carlingup Nickel Project NickelSearch Limited announced the completion of its maiden AC drill program and commencement of RC drilling and diamond drilling within the company's wholly owned Carlingup Nickel Project (Carlingup), located in Ravensthorpe, Western Australia. This phase of the Company's drill programs is focused on shallow resource definition, extensional drilling and metallurgical test work of the RAV nickel sulphide deposits. Since listing in October 2021, the company has been extremely active in its exploration, having completed the following drill programs: Maiden RC drill program of 33 RC holes for a total of 3,563m completed in December 2021; and Maiden AC drill program of 71 holes for 2,189m completed in late February 2022. In late 2021, 10 RC holes were completed for a total of 1,650m. Assays from one hole has been announced while assay results from the remaining nine holes are pending. The diamond drill rig is currently drilling large diameter (PQ) core at RAV-8. One hole has been completed to a depth of 110.1m, with the second hole nearing completion. In total, three holes are planned. Drilling from this program will supply core for metallurgical test work studies. In addition, the core will provide the company geologists with an important opportunity to assess the orientation of mineralized zones and structures to better track the mineralization at depth and along strike and refine the geological model. In late 2021, the company drilled 12 RC holes for a total of 827m. Assay results from two holes have been announced while assay results from the remaining 10 holes are pending. In February 2022, the Company completed 21 AC holes successfully for 599m. The drilling was focused on resource definition in areas of mineralization that are interpreted to be very close to surface in softer weathered rocks. Deeper holes were abandoned due to harder than anticipated host ultramafic rocks. The RC drill rig is now back onsite at RAV-4 West to focus on drilling two areas of open mineralization that it were unable to test with the AC drill rig. Diamond drilling is planned for RAV-4 West, where the company has 3 holes scheduled for 240m. In February 2022, the AC drill program was completed with 25 holes for a total of 710m. The RC drill rig will move to RAV-1 immediately following the completion of drilling at RAV-4 West. This drilling will focus on five areas of open mineralization, in addition to redrilling at least three AC holes to reach the ultramafic basal contact. Diamond drilling is planned for RAV-1, where the Company has two holes scheduled for 150m. AC drilling at RAV-4 was abandoned due to hard ground observed at surface that was unlikely to be penetrated by the AC drill rig. The RC drill rig is scheduled to mobilise to RAV-4 after the completion of drilling at RAV-1. A total of 15 RC holes are planned. These are designed for resource definition as well as testing mineralization at depth in two key areas. Diamond drilling is planned for RAV-4, where the Company has 2 holes scheduled for 150m. In late 2021, 11 RC holes were completed for a total of 1,200m. Assay results from two holes have been announced while assay results from the remaining nine holes are pending. The company is excited about the potential to release a maiden resource at RAV-5. Annuncio • Feb 09
NickelSearch Limited Announces Shallow Nickel Sulphides Intersected At Carlingup Nickel Project NickelSearch Limited announced further assay results from the maiden drilling program completed at the RAV4-West and RAV5 deposits within the Company's Carlingup Nickel Project. Carlingup Nickel Project Drill Results: Selected drill holes from the recently completed RC drill program at the RAV4-West and RAV5 deposits were prioritised for analysis based on handheld XRF analysis. Drilling results from the high priority advanced exploration target at RAV5 deposit has returned two significant drill intersections from priority holes. Highlight intersections were 2m at 1.80% Ni, 0.72 g/t 2PGM-Au, 0.25% Cu and 0.09% Co from 81m in NIS015, and 5m at 1.39% Ni, 0.77 g/t 2PGM-Au, 0.25% Cu and 0.07% Co from 50m in NIS014. Both intersections consisted of semi-massive to disseminated sulphides. Drilling by NickelSearch at RAV5 has provided vital information for a potential future maiden resource at the deposit. The principal objective of RC drilling at RAV4-West is to test the potential for high-grade extensions of the sulphide deposit. Preliminary results from priority holes returned a shallow nickel intersection of 2.0m at 1.31% Ni, 0.44 g/t 2PGM-Au, 0.14% Cu and 0.03% Co from 56m in NIS032. This hole has extended the deposit to the east for approximately 50m and remains open in that same direction. Drill hole NIS029 tested a gap in the central and shallow part of the deposit and returned very encouraging thick intersection of 10m at 0.67% Ni including 1m at 2.64% Ni, 0.67 g/t 2PGM-Au, 0.18% Cu and 0.06% Co from 41m. Lower grade nickel halos like this intersection are potential vectors to high grade nickel sulphide channels on the footwall contact as observed at RAV8. Significantly, these assay results demonstrate that the promising PGM, copper and cobalt credits observed at RAV8 are also present at RAV4-West and RAV5. Exploration Activities: The NIS 2022 exploration program commenced in early January with the completion of an airborne electromagnetic survey. Now the Company will commence an Aircore drilling program, to initially test the high-potential greenfield targets at John Ellis. Then the rig will undertake resource infill and extension drilling at RAV1, RAV4 and RAV4-West, targeting the near-surface potential. A diamond drill rig is scheduled to arrive on site mid-February to commence large diameter core drilling at RAV8, RAV1, RAV4 and RAV4-West. Primarily, this will supply core for metallurgical test work studies. In addition, the core will provide the NickelSearch geologists with an important opportunity to assess the orientation of mineralised zones and structures to better track the mineralisation at depth and along strike. A geophysical crew will also be mobilised to site mid-February to undertake downhole EM surveys of selected RC holes at RAV8, RAV5 and RAV4-West, aiming to identify potential massive sulphide targets along strike and at depth. NickelSearch is also pleased to announce that, beyond the drilling program, the Company's ongoing greenfield exploration will be bolstered by remobilising the systematic ultra-fine soil geochemical sampling program that commenced in 2021. A sampling crew has been mobilised to site to commence work immediately. This innovative and effective technique will cover parts of the project where there was no previous sampling. It will extend to areas where previous soil sampling lacks multi-elements needed for geochemical fertility studies - fundamental for nickel sulphide targeting. Results of soil geochemical sampling from last year are expected in February. Annuncio • Feb 01
NickelSearch Limited Appoints Nicole Duncan as Director, Effective 1 February 2022 NickelSearch Limited announced the appointment of Nicole Duncan as director, effective 1 February 2022. Annuncio • Nov 24
NickelSearch Limited Provides Maiden Drilling Update At Carlingup Nickel Project NickelSearch Limited announce the maiden drilling program is advancing rapidly with drilling now completed at the RAV8 and RAV5 deposits within the Company's Carlingup Project. The RAV8 deposit is the most advanced within the portfolio and has historically produced 16.1kt Ni at 3.45%. RAV8 is a classic Komatiitehosted nickel sulphide deposit with two main massive sulphide shoots, with an overlying large, disseminated nickel halo. The mineralised halo has an Inferred JORC (2012) Mineral Resource of 13.2Mt @ 0.60% Ni for 75.1kt Ni. Copper and cobalt credits are likely to be included in future resource estimates. At RAV8 initial drilling of 10 RC holes for a total of 1,650m was completed. Highlight intervals are: NIS009 where a 5m intersection of 20% disseminated and semimassive sulphide was observed. This drilling has confirmed the disseminated and semimassive sulphide halo of mineralisation west of Shoot 1 on the side of the historical open pit. Drill hole NIS003, where an intersection of 12% disseminated and vein sulphide was observed over a 6m interval. Drilling has extended the historical mineralisation at Shoot 3 to the north. The RAV5 deposit has been defined as a high priority advanced exploration target following an extensive review of the historical exploration database including drilling, geophysics, and geochemistry. Drilling of 10 RC holes for a total of 1,086m has now been completed. A highlight intersection of 60% massive, semimassive and disseminated pyrrhotite, pyrite and pentlandite was observed in NIS014 over 6 m. The intersection is encouraging and confirms that mineralisation is continuous over a 400m strike length from surface and open at depth down plunge to the southeast. Drilling by NickelSearch at RAV5 has provided vital information to underpin a future maiden resource.