Projects

Mt Isa North Copper-Uranium Project

The Company has entered into (together, the Acquisitions):

▪ a binding share purchase agreement (SPA) with Capella Metals Ltd, a public unlisted company, (Capella) and the key shareholders of Capella (Major Capella Shareholders) pursuant to which the Company has agreed to acquire 100% of the issued capital in Capella from the Major Capella Shareholders (Capella Acquisition). Capella holds a 100% legal and beneficial interest in 1 granted exploration permit, EPM 28620, and 3 exploration permit applications, being EPM 28791, EPM 28792 and EPM 28793 (together, the Capella Tenements) that are prospective for copper and uranium; and

▪ an option acquisition deed (Bacchus Option Deed) with Bacchus Resources Pty Ltd (Bacchus) pursuant to which NIS has been granted an option to acquire a 100% legal and beneficial interest in 5 granted exploration permits, being EPM 26987, EPM 27570, EPM 27947, EPM 27439 and EPM 28297 (together, the Bacchus Tenements) that are highly prospective for copper and uranium (Bacchus Acquisition).

The Capella Tenements and the Bacchus Tenements (collectively, the Mt Isa North Project) are a portfolio of granted exploration permits and exploration permit applications covering 2,003km² in the Mt Isa region, Northwest Queensland, Australia.

The Mt Isa North Project comprises approximately 2,003km2 of granted and pending exploration tenements located near the city of Mount Isa in Northwest Queensland, Australia.

The Mount Isa region is one of the world’s premier exploration and mining locations, hosting:

four of the world’s ten largest Zn-Pb-Ag deposits (Mount Isa, George Fisher, Century and Cannington);
the globally significant Mount Isa Cu-Co deposit (pre-mining metal inventory of 255Mt @ 3.3% Cu; Geological Survey of Queensland, 2011); and
the Valhalla project (148.3Mlbs @ 680ppm U3O8; Paladin, 2023) which is Australia’s 3rd largest uranium resource.

In addition, the Mt Isa region hosts extensive mining-oriented infrastructure, numerous mines and processing facilities, water and power utilities, rail and national highway transport connections, frequent commercial air services, city services, and a skilled labour force.

Surprise Mine Prospect

The Surprise and Startle prospects are situated within EPM 28297, ~80km NE of the city of Mount Isa. Surprise and Startle are examples of structurally-hosted high-grade Cu-Au targets of Iron-Sulphide Copper Gold (ISCG) style.

Significant historic drilling results include:

77m @ 4.67% Cu from 51.21m (SH30) Incl. 3.65m @ 3.15% Cu from 51.21m; and 12.80m @ 7.77% Cu from 62.18m
66m @ 9.53% Cu from 22.25m & 1.83m @ 1.70% Cu from 16.76m (SH37)
66m @ 2.70% Cu from 53.34m & 3.66m @ 1.50% Cu from 77.11m (SH41)
00m @ 2.83% Cu + 0.61g/t Au from 102m (SU007)
00m @ 2.83% Cu + 1.45g/t Au from 124m (SU001)

1.83m @ 4.10% Cu from 21.64m (SH40)

Conglomerate Creek Prospect

Conglomerate Creek Prospect is located 40km NNE of Mount Isa city and includes over 15km strike length of the Conglomerate Creek Fault which Capella believes is prospective for Mount Isa style Cu- Co, Zn-Pb-Ag and Iron oxide copper-gold (IOCG) style deposits. The exploration target is a block of Mount Isa Group sediments hypothesised to occur beneath the Eastern Creek Volcanics and favourable trap sites for mineralisation within the Eastern Creek Volcanics.

Calton Hills Prospect

Calton Hills is located within EPM 28792, 65km NNE of the city of Mount Isa. Previous exploration has provided compelling evidence of large Cu mineralised hematite breccias, potentially related to the IOCG mineral systems in the Eastern Succession, and rock types favourable to Cu mineralisation.

Calton Hills prospect is centred on a 2km x 2.5km fault-bounded basin of Mount Isa Group metasediments surrounded by rocks of the Eastern Creek Volcanics (ECV).

NIS proposes to focus on a 3km x 1.5km area covering the hematite breccia and Northern Fault which has been only lightly drilled along it’s strike length, using modern ultra-detailed drone-borne magnetic and ground-based gravity surveys.

Regional-Scale Faults Prospects

The Regional-Scale Faults prospects are associated with three broadly north-south trending major structures, the Mount Isa, Paroo and Hero Faults. Target deposit styles are Mount Isa-style sediment-hosted Cu-Co and Zn-Ag-Pb deposits, and magmatic-hydrothermal Cu-Au deposit types. Approximately 50km of each of the Mount Isa and Hero Faults, and 30km of the Paroo Fault occur within the Company’s tenements.

NIS considers that the Mount Isa, Hero and Paroo faults have been only superficially explored along much of their length, owing to the focus of previous explorers on exploring within the Urquhart Shale.



Level 1, 43 Ventnor Avenue, West Perth WA 6005



+61 8 6184 4983



info@nickelsearch.com