Mincor Resources has intersected what it calls an “exceptional zone” of high-grade nickel sulfide mineralization at its Cassini project.
Mincor Resources (ASX:MCR) has intersected what it calls an “exceptional zone” of high-grade nickel sulfide mineralization at its Cassini project in Kambalda, Western Australia.
The results come as part of an ongoing resource extension drilling program, intended to expand the company’s global nickel sulfide mineral resource base, which stands at 3.3 million tonnes at 3.6 percent nickel for 118,000 tonnes of nickel in ore.
The newest intersection is over 100 metres down-plunge of Cassini’s current mineral resource boundary; Mincor has also received strong intercepts from drilling in parallel channels, showcasing the potential for resource expansion.
“The impressive result reported today clearly shows that separate channels at the Cassini project can host thich, high-grade nickel sulphide mineralization,” said Mincor Managing Director Peter Muccilli.
“Not only have we intersected an exceptional zone of high-grade nickel sulphides more than 100m below the current resource boundary within the CS4 channel, we also have growing evidence of a large, high-grade, multi-channel nickel sulphide system,” he continued.
The intercept at the center of the announcement came to 7.17 meters at 11.49 percent nickel, with an estimated true width of 4.6 meters; it is located within Cassini’s CS4 channel. Cassini’s current mineral resource comes to 550,000 tonnes at 3.4 percent nickel for 18,700 nickel tonnes.
The company began exploration drilling at Cassini in February by using funds acquired in a prior capital raising. The goal was to tackle high-quality targets, with an initial focus on shallow regional targets that could display resource expansion potential.
In early 2019, the company intends to keep testing the shallower CS4 and CS1 channels, with additional plans to complete an extensional program at the CS2 channel to a depth of 550 meters.
Mincor also has a reconnaissance nickel drilling program docketed for early 2019, which will test other “highly promising” magnetic targets near Cassini with the goal of further proving its potential.
The company closed Monday (December 17) at AU$0.34, up 3.03 percent.
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Securities Disclosure: I, Olivia Da Silva, hold no direct investment interest in any company mentioned in this article.