TIR : New nickel sulphide exploration target - Widgiemooltha North ASX Report 11:46:0247 11/04/2003 Issuer: TIR TITAN RESOURCES NL 2003-04-11 ASX-SIGNAL-G
HOMEX - Melbourne
+++++++++++++++++++++++++ Titan Resources NL reports that recent regional exploration drilling on the northern portion of the Widgiemooltha North area, located 80 km south west of Kalgoorlie, has defined a new, highly prospective area of interest in an location where there has been almost no previous exploration.
The target area is situated between the Armstrong deposit (to the south) and the McEwen resource, some 2.5 kilometres north. The presence of the locally prospective nickel-bearing contact zone in this area has been demonstrated previously by geophysics and drilling. Titan has just completed a 100-hole, 2620 metre, RAB, geochemical drill program on a 200-metre by 50-metre grid in the search for new nickel targets.
The drilling has delineated a major anomalous zone over a 900 metre strike length with significant nickel intercepts, including 16 metres at 0.68% Ni from 36 metres in hole WDR094, 8 metres at 0.6% Ni from 28 metres in WDR096 and 24 metres at 0.53% Ni from 32 metres in WDR084. This mineralisation may represent a new ore shoot or the southern extension to the western limb of the large McEwen deposit.
Testing of this major target by RC drilling, to be followed up with down-hole geophysics, will be undertaken in the June quarter.
W J Ryan MANAGING DIRECTOR
Note:
The Project mineral resources detailed in this report accurately reflect information compiled by Ms Karilyn Farmer of Titan Resources NL who has relevant experience in relation to the mineralisation being reported on to qualify as a Competent Person as defined by the Australasian Code for Reporting of identified Mineral Resources and Ore Reserves.
TIR Price at posting:
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