Hylea Metals (ASX:HCO) has intersected high-grades of scandium during the maiden drilling program of the Tiger’s Creek battery metals prospect within its Hylea Project in New South Wales.
Results from the final 22 holes of the 54-hole reverse circulation (RC) and aircore program have been received, providing further evidence of extensive high-grade cobalt-platinum-nickel mineralisation.
They also show Tiger’s Creek may hold an extensive scandium deposit, which has the potential to add significant value to the project.
Emerging battery metals discovery
Hylea managing director David Berrie said with the maiden drilling complete, it was increasingly clear that Tiger’s Creek was emerging as a significant cobalt-nickel-platinum-scandium discovery.
Berrie said: “The cobalt grades and thicknesses have consistently matched those of nearby high-profile neighbours which have market capitalisations many times that of Hylea.
“This demonstrates the immense upside offered by Tiger’s Creek.
“We have [also] confirmed and enhanced the original cobalt, nickel and platinum results.”
The high-grade scandium assays recovered include: 31 metres at 471 ppm scandium from 26 metres, including 2 metres at 635 ppm and 1 metre at 600 ppm; 14 metres at 532 ppm from 45 metres, including 1 metre at 650 ppm and 2 metres at 705 ppm; and 15 metres at 490 ppm from 40 metres, including 2 metres at 620 ppm.
Highlighted battery metals results from the final holes include: 10 metres at 0.10% cobalt, 0.41% nickel and 0.20 g/t platinum, including 6 metres at 0.13% cobalt, 0.42% nickel and 0.24 g/t platinum; and 10 metres at 0.19% cobalt, 0.56% nickel and 0.74 g/t platinum from 12 metres, including 8 metres at 0.22% cobalt, 0.46% nickel and 0.79 g/t platinum.
The latest intersections start from just 7 metres below surface and include widths of up to 31 metres.
They contain further wide, high-grade shallow intercepts of cobalt but also reveal presence of broad, high-grade zones of scandium on the eastern side of the project.
Two other strike-continuous scandium zones in the central area and west of the drill sections have also been intersected.
Tiger’s Creek is on the eastern edge of the defined Hylea Ultramafic Intrusive Complex, in the Fifield ‘Battery Metals’ District of central NSW.
Tiger’s Creek is the Hylea Project’s most advanced target and has very similar source geology and laterite development to its neighbours but comparably very little exploration.