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16 June 2008 - Ore Grade Nickel Sulphide Discovery in SE QLD |
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2 June 2008 - New Copper-Silver Discovery at Black Snake |
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AusNiCo has discovered significant new nickel-cobalt sulphides and gold-copper mineralisation zones at the Pembroke prospect on the Black Snake Plateau, 30km south of Kilkivan in Southeast Queensland. Drillhole PEM 2 at Pembroke has intersected 4 metres of fresh nickel sulphides grading 1.1% nickel and 525 ppm (0.05%) cobalt within a large 50 metre-wide zone of low-grade nickel sulphide mineralisation. The copper-gold zone of 20 metres averaging 0.48% copper, 1.5 g/t gold that occurs above the nickel sulphides in hole PEM 2 is indicative of the copper-nickel zonation of the entire black Snake Plateau district. The Pembroke discovery is separate from the recently announced high-grade copper-silver sulphides discovery at Silver Valley, located some 2km east of Pembroke.
In addition, as announced on 2nd June, AusNiCo has discovered significant new copper silver mineralisation at Black Snake, 30km south of Kilkivan in Southeast Queensland. The first drillhole in the current drilling program at a prospect called Silver Valley has returned an intersection of 14 metres at a grade of 1.2% copper and 87g/t (2.8 ounces per tonne) of silver.
This intersection is in primary sulphide mineralisation with no oxide and is not a surficial supergene enriched zone. The potential for high grade extensions to considerable depths is therefore encouraging. The 5km long, 500m wide soil geochemical anomaly suggests significant potential exists for a major mineralised system.
Nickel mineralisation discovered within extensive tenements in South East Queensland show potential for a new Nickel province up to 30km long. A broad zone of nickel mineralisation has been identified above 0.3% Ni (open ended) over an area 250m long x 200m wide and more than 115m deep. Current drilling is targeting significant extensions to the mineralised zone with a further 2000m of drilling planned.
Project upsides include a strong magnetic target at 350m depth with the potential for nickel sulphide orebodies; highly encouraging metallurgy – 75% Ni recovery in 90 day acid leach test; the identification of a new style of mineralisation; and the advent of low pressure and temperature leaching offering the promise of a new nickel resource.
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Nickel Regional Map |
Mt Co Xsect 7102450N
drills with GeoDisc mag |
Mt Cobalt Geochemical zones |
Visably Nickeliferous
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Massive sulphide
gossans |
