Kagara provides Lounge Lizard update

Kagara Ltd has now received assays for three additional holes drilled into the....

  Kagara Ltd has now received assays for three additional holes drilled into the Lounge Lizard nickel deposit at Forrestania, south of Southern Cross in Western Australia.Diamond drill hole LLDKN1W1 encountered 65.76m at 0.91% nickel from 1,099.1m, including 29.00m at 1.27% nickel from 1,119.1m. Hole LLDKN1 intersected 33.70m at 1.15% nickel from 1,043.0m, including 5.70m at 2.23% nickel from 1,171.0m. Hole LFPD25W2W1W1W2 intersected 36.24m at 0.90% nickel from 1,194.9m, including 1.24m at 6.71% nickel from 1,229.9m.Drilling to date has established a wide zone of disseminated nickel sulphide mineralisation with a massive sulphide accumulation in a contact position at the base of the disseminated mineralisation becoming more pronounced in the deeper intersections. Assay results have still not been received for LFPD25WW1W2W1 which intersected 3.0m of massive nickel sulphides underlying a 13.0m disseminated intersection. Drilling is continuing at depth and along strike to the south.