Vertex Minerals Limited (ASX:VTX) finds pegmatites at Taylor Rock; shares surge 4% - Kalkine Media

Highlights:

• Vertex Minerals Limited (ASX:VTX) reports three sets of pegmatites on the northern section of the E63/2058 "Taylor Rock" Nickel–Gold project.
• The company's geologists identified pegmatites in an amphibolite setting during a follow-up site visit to Taylor Rock in WA.
• Pegmatites were found on the margin of a Salt Lake (sediment, not covered by water) and VTX believes these may extend under the lake sediments.

In a significant update, Australian-based gold exploration company Vertex Minerals Limited (ASX:VTX) reports three sets of pegmatites on the northern section of the E63/2058 "Taylor Rock" Nickel–Gold project.

Triggered by the update, the company's shares closed the day's trade at AU$0.130, which is 4% higher than the last closing price.

The company's geologists encountered the pegmatites in an amphibolite setting during a follow-up site visit to Taylor Rock in WA.

Project holding major lithium prospects

The WA-located project holds lithium prospects within a 50 km-long corridor along the southern and western margin of the Lake Johnston granite batholith.

Source: Company update, 13 December 2022

The project includes the Medcalf Spodumene prospect and much of the Mount Day lithium-caesium-tantalum (LCT) pegmatite field.

Presence on Salt lake’s margin: possibility of extension under lake sediments

Pegmatite rocks were identified based on coarse quartz, feldspars, and Micas. The pegmatites emanate from the nearby fertile granites and are injected into adjacent greenstones.

Source: Company update, 13 December 2022

Vertex has highlighted that the presence of pegmatites on the margin of a Salt Lake (sediment, not covered by water) see a possibility of their extension under the lake sediments.

Source: Company update, 13 December 2022

Nickel and gold potential of South Taylor Rock lease

The Company’s directors are optimistic about the nickel potential up and down dip from the previous intersections drilled by Norilsk, which only targeted nickel below 200m.  

VTX is looking to understand the shallower depths’ nickel potential. The significant intercepts from the historical drilling on the tenure are:

© 2022 Kalkine Media®, Data source: Company update, 13 December 2022

Way forward for Vertex

The samples and select Reverse Circulation drill chips from previous nickel-focused exploration by Norilsk Nickle (NN) have been dispatched for assay and petrological analysis.

Vertex has planned for an announcement after receiving assay and petrology results. The company is also planning for a future drilling program.