Exploration activities at Mt Isa North Project

NickelSearch Ltd (ASX:NIS) has commenced reconnaissance exploration at the recently acquired Mt Isa North Project, with geologists preparing for a maiden drilling campaign. Exceptional rock chip and grab samples collected during the due diligence site visit have returned high-grade copper, gold, and silver grades, validating the presence of high-grade Cu-Au mineralization at the Surprise Prospect. The company is targeting a 1,500m reverse circulation (RC) drilling campaign at Surprise in Q4-CY24 and remains well funded for initial drilling with an ongoing Entitlements Offer.

Executive Commentary on Mt Isa North Exploration

We have been hard at work finalising the acquisition of Mt Isa North, alongside collating all the data and identifying the highest priority targets to commence drilling. These new rock chips highlight the prospectivity of the whole tenement package, with the identification of a completely new target. Our Exploration Manager is on-site in Queensland this week, meeting with all the regional stakeholders and undertaking additional sampling and mapping in anticipation of a maiden NIS drill campaign at the highly prospective Surprise Mine Prospect, where we hope to confirm and extend the historical drilling. NIS looks forward to hitting the ground running following completion of the Mount Isa North Acquisition in mid-October.

Summary of Mt Isa North Exploration Update

NickelSearch Ltd (ASX:NIS) has reported exceptional high-grade copper, gold, and silver results from grab samples at the Surprise and Moonside prospects within the Mt Isa North Project. The company plans to conduct a 1,500m RC drilling campaign at the highly prospective Surprise Mine Prospect in Q4-CY24 to validate and extend existing mineralization, including testing for potential by-product credits such as gold and silver. Additionally, NickelSearch intends to undertake broader sampling and mapping programs at the newly identified Moonside Prospect. The company remains well funded for initial drilling and is set to complete the acquisition of Mt Isa North in mid-October, positioning itself for an active exploration phase with a focus on high-priority targets.