Resources and Energy Group (ASX:REZ) was recently featured in a Stockhead article regarding the discovery of high-value battery metals.
Drilling at REZ’s Springfield prospect keeps throwing up nice surprises, this time uncovering a bunch of high-value battery metals. A potentially lucrative find considering the company had been initially on the hunt for gold.
The article states:
"Not long after Resources & Energy Group (ASX:REZ) found nickel while drilling for gold at its Menzies project in Western Australia, the company has now unearthed an array of other highly sought after battery metals, including copper, cobalt, platinum and palladium.
REZ sent several sample intervals recovered from the Springfield drilling program for multi-element assaying and got back some very interesting results.
While a new peak assay of 1m at 1.78% nickel from 98m was returned, re-assaying also showed significant intervals of mineralisation that included nickel, cobalt, chromium, molybdenum, zinc, platinum and palladium in the four holes drilled so far."
The significant news from REZ saw the share price close to almost 14% on Tuesday at 4.9c!
A gold hunt turns up nickel
The article states:
"After the Richard Poole-led company initially discovered nickel, it did some digging and came across old CRA (now Rio Tinto) and BHP reports which showed the two mining heavyweights had found nickel as far back as the late 60s but weren’t interested in it because they only wanted gold."
Nickel is all the rage these days, due to the green energy revolution and the role of the base metal in batteries. Copper, cobalt, platinum, and palladium all play a role in the renewable energy transition, so it's not simply nickel.
A gold hunt turns up nickel
The new findings back up the idea that the ultramafic rocks on the Springfield side of the East Menzies project are prospective for nickel sulphides.
"Sydney-based REZ is undertaking further research towards developing a suitable exploration program to investigate the mineral-bearing potential of the area."
Read the full Stockhead article here.
