Exploration success at Mariners

Kambalda nickel producer Mincor Resources NL has released the latest results....

  Kambalda nickel producer Mincor Resources NL has released the latest results from exploration drilling programs at three of its operating nickel mines.The results indicate potential resource extensions at Redross and Wannaway, and highlight the Mariners NO9 discovery as possibly the most significant new ore body yet discovered by Mincor in the Kambalda District.Mincor said that the latest results from the Mariners NO9 included a double intersection of massive sulphides in hole MRDH0234, with 2.4m at 7.2% nickel and 3m at 7.2% nickel (all reported as estimated true widths). Significantly, the latter intersection is followed by an adjacent 10m wide zone (true width) of disseminated sulphide mineralisation averaging 0.9% nickel.The NO9 mineralisation is interpreted to occur in two partially overlapping zones of mineralisation that plunge moderately to the south within the overall north plunging trend. The results confirm the presence of wide, high-grade zones within the mineralisation, with the system strengthening down-plunge to the south, where it remains completely open.“The Mariners N09 mineralisation is shaping up as one of our most significant discoveries to date”, said managing director David Moore, “We now think we can target an initial resource of around 18,000-20,000 tonnes of nickel metal – substantially more than our current resource at Carnilya Hill – and it is still open”. Mr Moore said that an interim resource for the NO9, based on drilling to date, would be released with Mincor’s annual resource and reserve statement during September, but that drilling was continuing and further resource updates were possible after September.Recent drill intersections at Mariners N09 are:• MRDH0234: 3.0m at 7.2% nickel; and • MRDH0234: 2.4m at 7.2% nickel• MRDH0233: 0.1m at 4.8% nickel; and• MRDH0233: 0.2m at 2.3% nickel• MRDH0231: 1.3m at 1.2% nickel• MRDH0228: No significant assays• MRDH0226: 0.2m at 7.4% nickel; and• MRDH0225: 1.4m at 3.1% nickel.Mincor also released the results of recent drilling below its Redross Mine. The latest result, with an estimated true width of 1.9 metres at 5.7% nickel in hole RUD058A, confirms the existence of a zone of generally medium-grade mineralisation approximately 100m own-plunge of the current ore reserve. Mr Moore said that further drilling was underway, but that the company had already started evaluating the economic viability of the new mineralised zone.Meanwhile a program of underground diamond drilling at Wannaway Mine has demonstrated the possible presence of high-grade mineralisation at depth, with hole UWA-07-005 intersecting an estimated true width of 1.4 metres at 7.9% nickel. Mincor said that the result, which is the best of a number of ore grade or near ore grade intersections beneath Wannaway, would be followed up as a matter of priority.