Corcel plc said it had added nickel in its exploration scope at the Dempster vanadium project (50%) in Northern Yukon, Canada.
NICKEL
The company made the decision, subject to shareholder approval, following a recent external desktop study and a larger review of the project.
Corcel added that high grade NiMo layers have been reported in other Yukon projects such as Pe, Rich, Deer, El and Nick.
Exploration will include the confirmed NiMo (nickel-molybdenum metal-bearing, organic-rich black shales with platinum group metals PGMs) horizon that extends across the property.
VALUE
“The historic results from Dempster’s NiMo horizon suggest relatively small zones of NiMo horizon thickening may either prove to be independently economic, or at could be expected to add by-product credits to any production operations built at the project,” said the company.
“This expanded effort fits well with the company’s existing battery metals led strategy and should ultimately make the Dempster project more valuable and more likely to be progressed to an operating mine in the Yukon.”
VANADIUM
Corcel added that the project review also suggested a series of steps for the vanadium targets.
These include defining mineable limits with a focus on waterway avoidance, definition of inferred drilling resource definition; exploration of bi-metals; remote exploration options for zones of significant thickening; and exploration of additional tenement additions in the area.