Dynamic (ASX:DYM) hit thick nickel from first holes

Dynamic Metals have intercepted thick, high-grade nickel from first drilling over the Dordie Far West prospect at its Widgiemooltha project in the Western Australian Goldfields.

Three of the first five RC holes returned significant results from the first pass 3m composite samples, including a headliner 15m @ 1.86 per cent nickel strike from a 27m downhole.

“Returning thick and high-grade nickel intersections from our first five holes is an outstanding result from our maiden drill program at DFW,” Dynamic Managing Director Karen Wellman said.

“This is an excellent start to our first exploration campaign and we will prioritise our follow-up drill program, with an aim to further extend these intercepts at the Widgiemooltha Project.”

Drill hole positions and significant results

It marks an early success for the Jindalee Resources spinoff after publicly listing in January. The critical minerals explorer remains fully funded for exploration from a maximum subscription of $7 million IPO, with another three drill programs fully permitted at Widgiemooltha for the first half of 2023.

The detailed geochemical analysis will now be undertaken on 1m split samples to confirm Dynamic’s mineralisation model and plot follow-up drilling as the explorer continues a 6000m AC drill program 100km west at its Lake Percy Nickel Project.

Nickel Market Outlook

The outlook for nickel looks positive due to increased demand for electric vehicles and renewable energy storage.

It is expected that nickel demand will increase by approximately 40% in the next decade, and this will be driven by the need for electric vehicle batteries, particularly in China, Europe, and the United States. Additionally, government incentives and policies promoting green energy will boost the demand for nickel shortly.

DYNAMETALS FPO [DYM]

Sector: Basic Materials

Industry: Other Industrial Metals & Mining

Employees:

Dynamic Metals Limited engages in the exploration and development of minerals in Western Australia and Tasmania. The company explores for lithium, nickel, gold, copper, and platinum group element deposits. It holds interest in the Widgiemooltha lithium-nickel-gold project located east of Perth and south of Kalgoorlie; the Lake Percy lithium-nickel project, which consists of four exploration licenses located in the South-Eastern Goldfields of Western Australia; and the Deep Well nickel-copper-PGE project located in southeast of Meekatharra on the southern extension of the Gnaweeda greenstone belt. Dynamic Metals Limited was incorporated in 2022 and is based in West Perth, Australia.

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