Estrella (ASX: ESR) moves towards critical mass at Carr Boyd

Estrella Resources (ASX: ESR) has confirmed aT5 JORC 2012-compliant Mineral Resource Estimate underpinning a 5 and 7 million tonnes exploration target at the Carr Boyd Nickel Project located 80km northeast of Kalgoorlie.

The project exploration target showed between 0.7 percent to 1.5pc nickel and 0.3pc to 0.5pc copper, 35,000 to 105,000 and 15,000 to 35,000 tonnes, respectively.

The Project also contains around 12,000 ounces of platinum and palladium and about 55,000oz of silver.

Inferred Resource

• 16km of basal contact (Figure 1) to be targeted by drilling and geophysics
• Broonhill: CBDD076 – 6.23m (True Width) @ 0.6% Ni & 0.7% Cu including 1.2m @ 1.2% Cu
• Gossan Hill: CBP098 – 3m* @ 0.6% Ni & 0.3% Cu, 0.8g/t 3PGE’s at 114m
• Gossan Hill: CBDD082 intersects 5.5m* of cloud sulphides at 531.5m, awaiting assays
• T5 Extended – CBDD078A hits 1.8m* of remobilised, semi-massive sulphides within dyke awaiting assays

“I am pleased to report this initial MRE for T5, which is a significant milestone for Estrella and is a major step towards quantifying a sizeable Exploration Target estimate for the Carr Boyd basal contact, Managing Director Chris Daws said.

“We will continue to progress with systematically testing the approximately 16km of basal contact strike within Carr Boyd, as well as test for possible sulphide occurrences off the basal contact, such as those forming at the Carr Boyd Nickel Mine, with drilling and geophysics and I look forward to updating the market as results are received.”

The Company’s ASX shares are 1.5c in early trade.

About Estrella Resources

Estrella Resources Limited aims to achieve long-term shareholder value with the Board’s extensive exploration experience and innovative approach to mining and developing metal deposits.

ASX, listed in 2012, Estrella’s Limited current portfolio focuses on West Australian-based nickel exploration and development projects, including their Carr Boyd Nickel and Spargoville Nickel Project.