Mincor
Resources NL (ASX: MCR)
MINCOR DISCOVERS NEW nickel POTENTIAL AT
WANNAWAY
High Grade Drill Intersections May Indicate New Discovery Beneath Existing Mine
Australian nickel producer Mincor
Resources NL (ASX: MCR) has unveiled a potential new high-grade
nickel discovery beneath its operating Wannaway Nickel Mine at
Kambalda, after today announcing drilling results from a significant new ore
position.
Mincor said today (Monday) that recent underground drilling had
intersected high-grade nickel mineralisation beneath the existing workings,
demonstrating that the Wannaway ore system remains open at depth, with the
potential to reform into a significant new zone of mineralisation. Better
results include:
UWA-07-020: 5.06
metres @ 4.07% nickel
(true width 2.53 metres)
UWA-07-017: 8.34 metres @
2.63% nickel (true width 3.2 metres)
UWA-08-002: 8.12
metres @ 4.24% nickel
(true width 4.63 metres)
UWA-08-003: 7.38
metres @ 4.97% nickel
(true width 2.51 metres)
UWA-08-004: 4.00
metres @ 3.47% nickel
(true width 2.86 metres)
These drill hole intersections comprise strong
massive and matrix nickel sulphide mineralisation on sulphidic sedimentary
rocks lying directly on the basal contact – the critical stratigraphic
position for Kambalda-style ore bodies.
The drill intersections define a potentially high-grade ore position,
which itself may be interpreted as an off-shoot from a postulated larger ore
zone to the west, beneath the existing NO2 ore body at Wannaway. This
interpretation is supported by the previously reported results from drill hole
UWA-07-005 (1.4 metres
@ 7.9% Ni), which intersected strong mineralisation directly on the basal
contact, with no sedimentary rocks present.
This classic Kambalda-style nickel intersection in a sediment-free
window indicates the potential presence of the main ore trend, in a position
that is virtually untested by previous drilling.
“These results open up exciting new possibilities at Wannaway,”
said Mincor’s Managing Director, Mr David Moore. “While it’s
still early days, there is potential to define a major new ore body within easy
reach of our existing underground infrastructure. Drilling to test the
postulated main ore trend will start as soon as underground drill locations
become available.
“Looking at the bigger picture, the exploration upside emerging at
Wannaway is present at every one the 12 ore systems we now control in the
Kambalda nickel district,” Mr Moore added. “Mincor has
discovered 89,000 tonnes of nickel metal over the past seven years, and this
year we have more than doubled the number of ore systems available for
exploration. We believe this will further accelerate our overall rate of
discovery.”
Mincor currently operates six underground nickel mines in the Kambalda
District of Western Australia and is developing two more. The Company has
confirmed its production guidance of between 16,000 and 17,000 tonnes of nickel
metal in concentrate for the 2007/08 Financial Year, and expects once again to
substantially increase its nickel metal contained in resources by the end of
the current financial year – as it has every year since 2001.
The
information in this Public Report that relates to Exploration Results, Mineral
Resources or Ore Reserves is based on information compiled by Mr Peter Muccilli, who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Muccilli
is a permanent employee of Mincor Resources NL. Mr Muccilli has sufficient
experience that is relevant to the style of mineralisation and type of deposit
under consideration and to the activity that he is undertaking to qualify as a
Competent Person as defined in the 2004 Edition of the Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr
Muccilli consents to the inclusion in the report of the matters based on his
information in the form and context in which it appears.
- ENDS -
Released by:
On Behalf of:
Nicholas
Read / Kate Bell
Mr David Moore, Managing Director
Read Corporate
Mincor Resources NL
Tel: (08) 9388 1474
Tel: (08) 9476 7200 www.mincor.com.au
READ CORPORATE
Public Relations
Corporate Communications
T: (+61-8) 9388-1474
| F: (+61-8) 9388-1472 | E: info@readcorporate.com.au | Web: www.readcorporate.com.au
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