Dynamic pulls rods after 102 - Underground Group

Market newcomer Dynamic Metals has pulled the rods on its maiden 6300m air-core program across a swathe of ultramafic belts at its Lake Percy project near Norseman in Western Australia's Goldfields region.

The explorer plunged a total of 102 holes into the fertile Lake Johnstone greenstone belt that houses Poseidon Nickel's 3.5-million-tonne Maggie Hays deposit, which averages 1.49 per cent nickel.

Historical drilling along the metal-rich corridor has kicked up 6m running at 1.7 per cent nickel from 100m and a shallower 32m coming in at 0.53 per cent nickel from only 24m.

The same greenstone belt also plays host to Charger Metals’ nearby Mt Day lithium-rich pegmatite field where rock chip sampling has returned values of up to 3.84 per cent lithium oxide, in addition to its freshly-minted Medcalf pegmatite discovery. Charger recently announced a string of high-grade hits at Medcalf up to 2.06 per cent lithium oxide from a swarm of stacked spodumene-bearing pegmatites up to 13m thick, along a 700m strike.

Air-core drilling is a quick and cheap reconnaissance drilling technique employed in the early stages of regional exploration. The drill bit is pushed down to the fresh rock to obtain rock samples for geochemical analysis to sniff out hints of fresh sulphide mineralisation and to generate targets for follow-up RC and diamond drilling.

Dynamic expects its samples will assist in the assessment of the lithium-caesium-tantalum potential of its prospective patch by providing further information on the nature and extent of pegmatites housed in its tenure.

Lake Percy covers an area of about 200 square kilometres and has previously been explored for nickel by companies including Anaconda, LionOre and White Cliff Minerals, while Liontown has also scratched around for lithium in the area.

Dynamic's exploration program for nickel and lithium at Lake Percy has already highlighted eight potential targets from historical data and geophysics. Adding to the grab-bag of critical metals, previous exploration across the ground has also highlighted several promising gold anomalies.

Since hitting the boards at the ASX in January, Dynamic is living up to its moniker, recently wrapping up a maiden drill campaign at its Dordie Far West nickel target at its Widgiemooltha lithium-nickel-gold project near Kambalda.

Early results are more than encouraging with the company latching onto 16m grading 1.96 per cent nickel from only 27m, which contained a higher 2.84 per cent hit through 5m.

The prospect sits on the broader Widgiemooltha Dome in the Goldfields, some 40km south of Kambalda. Surrounding nickel sulphide mines have a strong pedigree and include Cassini, Wannaway, Mariners, Miitel and Lanfranchi.

Picking up a mass of tenements that stretch from Kambalda down to Lake Percy, Dynamic raised a tidy $7 million on listing as a spin-out of Jindalee Resources. The parent company has more than its hands full with its McDermott project in the United States, which is shaping as potentially one of the biggest lithium deposits in that country.

Just yesterday, financial juggernaut Morgan Stanley called a turning point on lithium markets with falling midstream inventories and the slowing of supply growth boding well for future prices. Nickel prices also look to be settling near the US$25,000 (AU$36,800) per tonne mark after a 12-month low of US$18,000 (AU$26,500).

With a pocket full of cash, tenure in a first-class nickel and lithium neighbourhood and a drilling company seemingly on speed dial, Dynamic is shaping up as a market dynamo.

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