Dynamic Metals will hit the boards on the ASX this week after spinning out of Jindalee Assets with a mass of tenements that stretch from Kambalda to Norseman in one of many richest mineral provinces within the nation. Whereas the area is well-known for its gold and nickel endowment, Dynamic already has one eye on the lithium potential of its tenements that wash by way of a area that already performs host to various severe lithium discoveries.
Publish its profitable $7 million IPO, Dynamic will give attention to three key tasks beginning with Widgiemooltha that covers round 880 sq. kilometers within the revered Kambalda-Norseman area, an space that has produced greater than 1.6 million tonnes of nickel because the 1960s – and one that’s now being reinvented as a rolled gold lithium handle.
Dynamic’s former mum or dad firm, Jindalee Assets, found the McDermott mission within the USA which is shaping as doubtlessly one of many largest lithium deposits in America. Nonetheless, regardless of what seems to be the invention of a tier-one international lithium asset, Jindalee additionally held a portfolio of potential Australian exploration belongings which it says wanted a extra devoted focus.
Enter Dynamic Metals helmed by former Jindalee Chief Govt Officer Karen Wellman who takes on the twin roles of Managing Director and CEO.
Dynamic’s Widgiemooltha tenements are adjoining to various profitable nickel operations together with the not too long ago developed Cassini deposit. Seeking to the long run, the corporate has already highlighted two potential nickel drill targets at its Dordie Far West and Sunday Soak prospects.
The asset already seems to indicate promise with historic drilling confirming a number of disseminated nickel sulphide hits way back to 2007 at Dordie Far West. Highlights embody 2m at 1.9 per cent nickel from 26m along with 16m going 1.1 per cent nickel from 20m. A smaller 0.2m hit returned a whopping 10.7 per cent nickel, 3.1 per cent copper and traces of cobalt from 45m. Sunday Soak recorded bottom-of-hole drill outcomes of round 0.four % nickel from drilling in 1997 and stays open alongside strike to the north and the south.
Along with the nickel potential of Widgiemooltha, Dynamic believes the positioning can also be potential for gold – maybe not shocking contemplating the positioning’s location within the Goldfields. The tenements are in good firm with main gold operations St Ives, Higginsville and the Chalice gold operation additionally within the area. Historic gold outcomes on the web site embody 6m at 2.7 grams per tonne gold from 18m, 6m going 1.1 g/t gold from 48m and a 3m hit recording a formidable 8.64 g/t gold from 38m.
Dynamic has all approvals in place to start drilling at Dordie Far West and Sunday Soak and is predicted to start its maiden drill marketing campaign early this yr.
Whereas the corporate will focus its early exploration on nickel and gold at Widgiemooltha, Dynamic has been buoyed by the positioning’s lithium potential after figuring out pegmatite outcrops. The area is thought to be an rising lithium hotspot and the operation is positioned inside 25km of the Mt Marion, Bald Hill and Buldania lithium tasks. ASX-listed Widgie Nickel not too long ago introduced the invention of lithium in rock chip samples at its close by Faraday prospect with outcomes exhibiting grades of three.7 per cent, 3.6 per cent and three.1 per cent lithium oxide.
Dynamic says its Widgiemooltha mission has seen just about no lithium exploration and the corporate has recognized mapping and rock chip sampling as a precedence.
The explorer additionally holds excessive hopes for his Lake Percy mission within the Goldfields area of WA. Positioned round 60km east of the Mt Holland lithium mission, Lake Percy covers an space of ​​about 200 sq. kilometers and sits alongside the Lake Johnston Greenstone Belt.
Dynamic says it has recognized spodumene-bearing pegmatites round 20km south of the positioning’s Mt Day prospect along with anomalous lithium intersected in historic drilling. The location has beforehand been explored for nickel by corporations together with Anaconda, LionOre and White Cliff Minerals while Liontown has additionally finished some lithium exploration within the space.
Notably, historic assay outcomes embody a major 16m hit going 1.5 per cent nickel from 18m along with a 6m part at a strong 1.7 per cent nickel. Dynamic’s exploration program for nickel and lithium at Lake Percy has already highlighted eight potential targets from historic knowledge and geophysics. The corporate expects to start a section 1 and a pair of AC drilling marketing campaign through the second quarter of the calendar yr. Earlier gold exploration round Lake Percy centered on regional sampling that highlighted various promising gold anomalies.
Dynamic has loads of work to do chasing up a variety of high-priority targets with loads of attention-grabbing historic hits which might be begging for modern-day follow-up. The corporate has additionally highlighted the potential of its Deep Effectively mission which it describes as a “wild card” within the pack.
The location was pegged in 2020 and sits round 35km south-east of Meekatharra within the Mid West area of WA. Deep Effectively has seen minimal earlier exploration with a spotlight solely on gold. Early reconnaissance work within the space has recognized eight outcropping gossans that seem anomalous for nickel, copper, gold and platinum group parts. Whereas the corporate is but to safe all exploration approvals for the positioning, it hopes to start a section 1 AC program within the 2024 monetary yr.
Along with its portfolio of potential tasks, Dynamic additionally boasts a strong board with Wellman bringing greater than 20 years expertise as a Geologist and prior data of the mission suite courtesy of her earlier position at Jindalee. Her earlier roles embody senior positions at Silver Lake Assets and Doray Minerals earlier than her stint because the CEO of Jindalee.
Wellman has secured the companies of skilled geologist Tanh Doan who has been credited with various vital nickel discoveries together with the Cassini discovery close to Dynamic’s Widgiemooltha mission. Doan brings over 33 years of exploration expertise as a geologist together with 17 years working with heavyweights like WMC and BHP.
Jindalee – and now Dynamic – has in some way managed to piece collectively an enormous land bundle within the Kambalda-Norseman area that others may solely hope to duplicate.
The area is critically nicely endowed with minerals and even a cursory look at its tenement map immediately reveals Dynamic’s extraordinary land place on this most profitable of areas.
The spin-out from US-focused Jindalee makes lots of sense and it’s recreation on now for the cashed-up Dynamic who’s spoiled for alternative and well-placed to offer this spectacular tenement bundle the love that Jindalee couldn’t.
Is your ASX-listed firm doing one thing attention-grabbing? Contact: matt.birney@wanews.com.au
