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Strategic Minerals Plc
Summary
| Project: | Laverton Project | |
|---|---|---|
| Deposit: | Hanns Camp | |
| Location: | Australia | |
| Commodities: | Nickel-Platinum | |
| Date: | 8/3/2016 | |
| Report Code: | (no Code) | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 3-8-2016: Strategic Minerals Plc announces an Exploration/Drilling Update report for its Hanns Camp deposit at the Laverton Project project. JV - drilling results incl. 26m @ 0.70% Ni from 16m. Strategic Minerals PLC (AIM: SML; USOTC; SMCDY), the multi-mi | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Ben Pollard (Not stated) | |
| ABSTRACT: | Strategic Minerals PLC (AIM: SML; USOTC; SMCDY), the multi-minerals production, exploration and development company, is pleased to announce that it has received encouraging assay results from the maiden drill programme at its Hanns Camp Project and that these have confirmed the existence of Nickel Sulphide and Platinum within the tenements. These results are set out in the tables below. Central Australian Rare Earths Pty Ltd ("CARE"), the owner of the Hanns Camp Project and which the Company now has a 50% ownership, now plans to re-assay the samples with elevated Platinum for the rest of the Platinum Group Elements (PGEs) and undertake an expedited Mineral Resource estimate around the supergene Nickel enrichment in the weathered zone in order to combine CARE's drilling results with the historic drilling which also identified this mineralisation. Depending upon the nature of the historical data being utilised, the Mineral Resource estimate may or may not be made under the JORC code. CARE is now also examining the prospect of drilling its Mount Weld, Western Australia tenements, which the management of CARE believe is prospective for rare earths and gold. Strategic Mineral's Managing Director, John Peters, said: "The confirmation provided in the assay results is encouraging, however, to gain an understanding as to the potential value of the tenement an initial Mineral Resource estimate is required, which is likely to be followed by further land based electromagnetic surveys and targeted drilling. This is the beginning of the process and the Board is encouraged by both the findings to date and the trend in Nickel prices." | |
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