Following the results outlined in the
While further holes are planned on this section, in order to increase confidence in the Inferred section of the Mineral Resource (and potentially convert it to the Indicated category), the rig was repositioned to drill an infill section, with the first hole (MDD341) returning an outstanding intercept of 8.2m @ 7.6% Ni (estimated true width 4.7m).
MDD341 is located within the Inferred Mineral Resource envelope in the delineated CS5/CS4 channels. This new intersection was recorded in the CS4 channel after intersecting the interpreted very top edge of CS5 (which returned 5.7m @ 1.3% Ni). The CS4 intersection is stronger than currently modelled and is more in line with the previously reported intercept in MDD338 (17.6m @ 5.0% Ni) referred to earlier.
MDD341 demonstrates the continuity, thickness and high-grade nature of the nickel sulphides contained within the CS5 and CS4 surfaces and confirms the Company's decision to potentially include these Inferred Resources as part of the Definitive Feasibility Study (DFS) to be announced by the end of this quarter. The diamond drill rig has now moved to the down wedge below MDD341, targeting the CS5 channel.
A second diamond drill rig was sourced during
The initial target was two discrete magnetic highs that appeared to be on the basal contact and were down-plunge from anomalous nickel geochemistry in historical aircore holes. The first hole tested the western-most magnetic feature but intersected no significant nickel mineralisation and thin komatiite flow units and sediments. The DHEM response from this hole identified a target further to the east. The second hole in the program intersected thin flow units with minor nickel mineralisation of 0.2m @ 2.5% Ni in a hanging wall position.
Holes MDD340 and MDD342 (the most recent hole) were drilled progressively to the east and tested the second magnetic feature and DHEM targets. All holes have delivered improved vectors and indicate potential for greater nickel prospectivity further to the east and up or down-plunge. MDD342 intersected 7.7m @ 1.4% Ni, which included matrix sulphides that returned 0.5m @ 7.5% Ni.
Two holes are planned to be drilled in the CS1 area and the plan beyond these holes remains flexible depending on results.
'The intersection of 8.2m at 7.6% nickel supports our belief that, as we drill deeper,
'The focus of drilling is to convert some, if not all, of the Inferred material into the higher confidence Indicated category. We are also seeking potential Mineral Resource extensions to demonstrate that Cassini will have a significant life beyond what we ruled off for DFS purposes in
'Outside of
Contact:
Tel: (08) 9476 7200
Email: d.southam@mincor.com.au
Web: www.mincor.com.au
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