Ann: Primary source of Veri Veri nickel sulphide float confirmed, page-23

from Today's $tockhead

LCL RESOURCES (ASX:LCL)

The proven mine hunter previously known as Los Cerros has uncovered a 200m wide corridor of high-grade nickel sulphides – include nickel-rich boulders up to 1m in diameter — at the Veri Veri project in PNG.
Multiple surface samples return over 10% nickel sulphides – that’s high grade — including a trench of 3m @ 2.11%Ni and 0.23g/t Au.
Veri Veri is a distinctive hydrothermal nickel sulphide-gold system. It could also be very big, LCL says.
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Nickel-rich boondies (green). Source: LCL
“The company is encouraged by the very high grade and frequency of nickel sulphide boudins [boulders] noted along and across the strike of the corridor, and its potential to yield bulk nickel grades of economic significance,” LCL says.
“LCL geologists were impressed with ‘boulder fields’ of nickel sulphides and, when random pits/trenches were excavated within the corridor, nickel sulphide-bearing outcrops up to 13.38% Ni and 5.35g/t Au were found that confirmed surface boulders (boudins) to be in situ and not transported float.”
Next steps include airborne electromagnetic (EM) geophysical surveys “appropriate for the steep topography and poor exposure”.
LCL, which is also hitting serious paydirt at the Kusi gold target in PNG, recently diversified into the mineral-rich country as it waits for “greater clarity on new government mine development policies” in Colombia.
LCL’s 2.6Moz Quinchia project in Colombia is currently the focus of low-cost project development studies.
The $35m capped explorer is down 25% year-to-date. It had $8.6m in the bank at the end of March.