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Metals X Ltd.
Summary
| Project: | Nifty | |
|---|---|---|
| Deposit: | Nifty | |
| Location: | Australia | |
| Commodities: | Copper | |
| Date: | 8/9/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 9-8-2017: Metals X Ltd. announces an Exploration/Drilling Update report for its Nifty deposit at the Nifty project. Drilling results incl. 10.95m @ 1.12% Cu from 531.47m. Metals X Limited (Metals X or the Company) is pleased to advise that its first step- | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Not stated (Not stated) | |
| ABSTRACT: | Metals X Limited (Metals X or the Company) is pleased to advise that its first step-out drill hole 1km down plunge of the current Nifty orebody has intercepted multiple mineralisation zones over 30m. The first hole, aimed at confirming the mine sequence stratigraphy as interpreted by the recent geophysics, has confirmed both the stratigraphy and has intercepted significant copper mineralisation in what is considered to be the same mineralised limb currently being mined at Nifty. The objective of the current drilling program is to step out and test the position of mineralisation down-plunge of the current mining areas. The location of the completed drillhole is approximately 1km east of the current mine workings, 700m from the defined area of mineralisation and remains relatively shallow, as shown below. Significantly, this first hole, as planned, has intersected the northern limb of the Nifty Syncline. A further hole will be drilled to target the syncline keel which is the key mineralised area of the Nifty ore system. As is depicted in the long section diagram above, the northern limb in the current mine has provided for more than 10 years of mining over a down-plunge distance of only 600m. The significance of such strong mineralisation in the first of our holes with a 1km step out is highly encouraging with the objective of mine-life extensions. Drilling is continuing. Managing Director, Warren Hallam, said: “This is an exceptional and exciting result for Metals X as it clearly shows that mineralisation of Nifty continues down plunge well beyond the current orebody, further demonstrating our expectations that Nifty will become a very large long-life mine”. | |
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