NickelSearch Limited announce that it has received assay results for the recent soil sampling program in the Serendipity and B1 target areas, within the Carlingup Nickel Sulphide Project (Carlingup or the Project) in Western Australia. A total of 223 soil samples were taken over three high priority target areas which have returned promising results. They have highlighted significant nickel and coincident pathfinder anomalism over the target areas, including an exceptionally high soil nickel value of 3,900ppm (0.39%) Ni.

The results of this soil sampling program combined with previous geological mapping and magnetic surveys will help guide the upcoming maiden drill program at both Serendipity and B1. As part of the planned exploration across the Carlingup Trends and Cordingup Ranges, a program of soil sampling was recently completed at B1 and Serendipity by a crew from XM Logistics. A total of 223 soil samples were collected and sent to LabWest for Ultrafine + analysis.

The assay results have been received and show strong anomalism for nickel and pathfinder elements and have a close correlation with magnetic anomalies and previous geological mapping in the area. The distribution of the elements suggests at least two distinct potentially nickel-bearing ultramafic units running along the main Serendipity trend. In addition, anomalous nickel /chrome ratios indicate the area is highly prospective for nickel sulphides.

Historic drill intercepts in the B1 area, including hole RAVC0162 intersected 6m at 1.0% Ni, and hole DDHB1010 intersected 5m at 1.1% Ni. Results from the soil geochemical program clearly demonstrates that nickel anomalism extends to the north-west along strike of the previously drilled area for up to 300m and confirms the potential for similar or higher-grade nickel sulphide intercepts. Serendipity only has one historical drill hole which was located away from the main nickel anomaly trend so remains effectively untested.

The results show a broad anomalism for nickel across the B1 and Serendipity area with 106 values above 500ppm associated with mapped ultramafic bedrock. Most encouragingly, the nickel values greater than 1,000ppm coincide with a linear west-northwest trending magnetic high running along the Cordingup Range, with one outstanding sample of 3,990ppm Ni. Figure 4 shows the distribution of the geochemical results where any sample returning over 500pm nickel was considered anomalous.