Nyota Minerals Limited

Published : May 29th, 2015

Airborne Geophysical Survey Commences at Ivrea Nickel Project in Italy

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Keywords :   Helicopter | Italy | London | Nickel | Precious Metals |

29 May 2015

 

Nyota Minerals Limited (?Nyota? or ?the Company?)

Ivrea Project: Airborne Geophysical Survey Commences

 

Nyota Minerals Limited (ASX/AIM: NYO) is pleased to announce the start of the airborne geophysical survey at its 70% owned Ivrea nickel exploration project in the Piemonte Region of Italy.

 

The survey has been contracted to Geotech (www.geotech.ca) employing their Versatile Time Domain Electromagnetic (?VTEM?) system. Geotech has a strong working relationship with a local helicopter hire company based in Piemonte, which was one of the key factors in their selection as the demands of flying a survey in the steep terrain will have a fundamental impact on the data that is collected.

Nyota has separately engaged Southern Geoscience Consultants in Perth (?SGC?) to provide remote oversight of the data for independent quality control, analysis and interpretation. Its experience in the use of geophysics for nickel exploration is an important contribution to the programme.

 

The airborne survey is a fundamental part of the first year?s work programme and comprises primarily of an electromagnetic survey intended to identify any extensions to the nickel sulphide mineralisation mined historically and any additional accumulations of sulphides in chosen areas of interest that may host nickel and associated base and precious metals.

 

Magnetic data will also be collected but due to the terrain the flight line orientations are not optimal for this secondary objective. Where the data is useable, its primary use is as a mapping tool to identify geological structures and different rock types.

 

The results of the survey will be interpreted with the benefit of the data available from the historic mines, previous exploration undertaken by ENI (the Italian integrated energy company) in the early 1980s, published academic research papers and the US Geological Survey geological mapping exercise published in 2003.

 

Nyota is funding 100% of the current expenditure on the Ivrea Project as part of its agreement to acquire 70% of the holding company, KEC Exploration Pty. Further details are available in the announcement of acquisition dated 11 February 2015.


 

For further information please visit www.nyotaminerals.com or contact:

 

Richard Chase

Nyota Minerals Limited

Chief Executive Officer

+61 (0) 8 9324 2955

info@nyotaminerals.com

Michael Cornish

Roland Cornish

Beaumont Cornish Limited

Nominated Advisor and Joint Broker

+44 (0) 207 628 3396

Susie Geliher/

Elisabeth Cowell

Financial PR

St Brides Partners Ltd

+44 (0) 20 7236 1177

 

 

Neither the contents of the Company?s website nor the contents of any websites accessible from hyperlinks in the Company?s website (or any other website) is incorporated into or forms part of, this announcement.

 

ENDS

 

 

cid:image001..jpg@01D02E70.74B813E0

 

Charlotte Heap

St Brides Partners Ltd

3 St Michael?s Alley, London, EC3V 9DS

www.stbridespartners.co.uk 

Tel: +44 (0) 207 236 1177   |   Mob: +44 (0) 777 186 2283   |   Twitter: @StBrides1

 

Data and Statistics for these countries : Italy | All
Gold and Silver Prices for these countries : Italy | All

Nyota Minerals Limited

EXPLORATION STAGE
CODE : NYO.AX
ISIN : AU000000DWY1
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Nyota Minerals is a nickel and gold development stage company based in Australia.

Nyota Minerals holds various exploration projects in Burundi, in India and in South Africa.

Its main exploration properties are SWAZIGOLD in Swaziland, YORK PLATINUM and LAKE SONFON in Sierra Leone, TULU KAPI in Ethiopia, MUREMERA in Burundi, ZOET EN ZUUR and PYPKLIP in South Africa and INDIAN in India.

Nyota Minerals is listed in Australia and in United Kingdom. Its market capitalisation is AU$ 1.9 millions as of today (US$ 1.4 millions, € 1.3 millions).

Its stock quote reached its highest recent level on July 27, 2007 at AU$ 1.55, and its lowest recent point on November 14, 2016 at AU$ 0.00.

Nyota Minerals has 1 877 600 000 shares outstanding.

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