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Mincor Resources NL
Summary
| Project: | Kambalda | |
|---|---|---|
| Deposit: | Cassini | |
| Location: | Australia | |
| Commodities: | Nickel-Copper-Cobalt | |
| Date: | 1/6/2020 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 6-1-2020: Mincor Resources NL announces an Exploration/Drilling Update report for its Cassini deposit at the Kambalda project. Drilling results incl. 17.58m @ 4.99% Ni, 0.33% Cu, 0.09% Co from 730.91m. Mincor Resources NL (ASX: MCR, “Mincor” or the “Compa | |
| Resources: | (Resource, I+I): 1.254Mt @ 4.0% Ni at Cassini | |
| CP/QP: | [Overall Report]: Rob Hartley (Internal) | |
| ABSTRACT: | Mincor Resources NL (ASX: MCR, “Mincor” or the “Company”) is pleased to advise that ongoing diamond drilling at the Cassini nickel sulphide deposit at Kambalda has returned another exceptional high-grade nickel intercept which yielded 17.6m at 5.0% Ni (including 13.0m @ 6.1% Ni), interpreted to be within the CS4 channel (see Figures 1 and 2). Importantly, the new intersection is 115m down-plunge from the last reported CS4 intersection and represents the first result from a discrete program aimed at demonstrating the continuity of nickel sulphide mineralisation at Cassini. This intersection is down-plunge of the boundary of the reported Mineral Resource of 1.254Mt at 4.0% Ni for 50,400 nickel tonnes (refer ASX announcement, 6 November 2019). Initial interpretation from this intersection indicates that the CS4 and CS5 channels may be steeper dipping beyond the current Mineral Resource. The new intercept demonstrates the continuity, thickness and tenor of the high-grade nickel sulphide mineralisation within both the CS4 and CS5 surfaces, providing the proof of concept to continue the extensional drilling program at Cassini throughout January and early February 2020. The first hole of the program, MDD338, was designed to test the CS4 channel up-dip in a shallower position to allow for any potential changes to the basalt model and provide an electromagnetic survey platform, which ultimately provided the target for MDD339. Positively, MDD338 intersected nickel sulphides on the CS4 surface returning an intercept of 1.3m @ 7.8% Ni. Consistent with this interpretation, MDD339 also intersected the upper leading edge of the sub-vertical CS5 surface, returning an initial intercept of 4.2m @ 1.2% Ni before encountering the wide highgrade zone of nickel sulphide mineralisation reported above. | |
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