Continental Nickel Reports Discovery of New Ultramafic Intrusions

- January 31st, 2011

Continental Nickel (CVE:CNI) announced drilling results from the exploration program in Tanzania

Continental Nickel (TSXV:CNI) announced drilling results from the exploration program in Tanzania.

The press release is quoted as saying:

The program targeted selected geochemical anomalies and airborne and ground electromagnetic conductors located throughout the Company’s vast land holdings. Ten out of twenty-four RC holes intersected favourable ultramafic intrusive rocks, two of which returned anomalous nickel-copper values including RC drill hole NRC10-022 which intersected 0.51% nickel and 0.05% copper over 6.0 metres. In addition, three other RC holes intersected polymetallic base metal mineralization with anomalous values in copper, zinc, and silver. The project is a 75:25 Joint Venture between CNI and IMX Resources Limited (“IMX”) of Australia.

Craig MacDougall, President & CEO of Continental Nickel Limited, said:

“The results of the RC drilling program continue to significantly increase our geological knowledge and understanding of our relatively unexplored and extensive land holdings. Additional indications of nickel sulphide mineralization have been intersected in the Lionja area, and ultramafic rocks with potential to host new nickel-copper mineralization have now been intersected at several new locations throughout our regional land package, both of which will help to focus future exploration efforts. In addition, we have intersected the first indications of polymetallic copper-zinc-silver mineralization suggesting exploration potential for the discovery of other types of base metal deposits.”

To access the full release, click here.

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