bingo, this is going off now, page-2

OUTSTANDING HIGH-GRADE DRILL INTERSECTION NORTH
OF MIITEL
Result Shows Ore Body Continues and Strengthens to North
Nickel producer Mincor Resources NL’s (MCR: ASX) intensive exploration program at its
Kambalda nickel operations in WA has delivered its most significant result to date, with drilling to
the north of the North Miitel ore body returning an outstanding high-grade intersection of 4.80
metres at 5.67% nickel, including 1.40 metres at 12% nickel (drill hole MDD-046). The result
demonstrates that the North Miitel ore body not only continues, but strengthens, to the north.
North Miitel (Ore Reserve of 500,000 tonnes at 2.5% nickel) is currently under development and
is located adjacent to Mincor’s flagship Miitel mine, the largest of its four Kambalda nickel
operations. The new exploration result at North Miitel follows the announcement earlier this
month of a third ore grade intersection (2.57 metres at 3.58% nickel) to the south of the Miitel
mine, further reinforcing the potential for additional significant reserve and resource increases in
the area.
MDD-046 was targeted at a step-out position 90 metres down-plunge from the previous most
northerly drill hole at North Miitel (DRD-1523W1: 9.72 metres @ 3.65% Ni). The hole passed
through a favourable sequence of high-MgO ultramafic rocks, before intersecting 4.80 metres
(down-hole) at 5.67% Ni, at a down-hole depth of 628.7 metres (see long section attached). The
true width of the intersection is estimated at 3.0 metres.
In broad terms, the intersection exhibits a classic Kambalda-style nickel profile, with disseminated
and matrix sulphide mineralisation overlying 1.4 metres of massive nickel sulphide
mineralisation, grading 12% nickel, which in turn lies directly upon the basal contact. Above the
intersection there is additional sub-grade mineralisation in lightly disseminated sulphides in the
ultramafic rock.
Below the intersection, and contained within the underlying basalt, is a further intersection of
vein-style disseminated and stringer mineralisation comprising 1.10 metres @ 5.49% nickel. This
has not been included in the calculation of the intersection presented above.
The result is of outstanding importance for Mincor, as it demonstrates that the North Miitel ore
body, which is currently under development, continues and strengthens for at least a further 90
metres to the north, and is still entirely open beyond that. The apparently continuous nature of
the mineralisation well beyond the margins of the current ore reserve also means that it will
require only minimal additional capital to develop.
“This is a giant Valentine’s Day gift from Miitel to our shareholders”, commented Mincor’s
Managing Director, David Moore. “Miitel has proved to be a fabulous ore body, and just keeps
getting bigger. With the recent drill results from South Miitel, and now this intersection to the
north, it looks like the best is yet to come from this ore system”.
Mincor said that drilling to determine the up and down dip extents of the mineralisation, and the
further continuation to the north, would take place once down-hole geophysical surveys had been
completed.
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MINCOR MEDIA RELEASE MINCOR MEDIA RELEASE MINCOR MEDIA RELEASE
EXTENSIONAL AND REGIONAL EXPLORATION DRILLING CONTINUES
The drill rig has now moved to drill a hole down-plunge of Mincor’s Redross Nickel Mine, which is
another high-potential extensional target area. By the end of February Mincor expects to have a
second surface diamond rig on site. These two rigs, working on double shifts, will circulate
between South Miitel, North Miitel and Redross/Jeremy Dee. Two underground drill rigs are
already operational at Miitel, and one of these will shortly move across to Mariners, to commence
the extensional exploration drilling of the 07 and 08 ore bodies.
On the regional exploration front, two diamond holes have been completed on nickel targets
between Anomaly A and Mariners. The second of these holes intersected favourable high-MgO
ultramafic rocks, with some minor development of sulphides above the basal contact – a positive
indicator.
Diamond drilling of Mincor’s first gold prospect in the Widgiemooltha area started on Friday on the
exciting Gilligan Prospect, where high gold grades at shallow depths are indicated from the
historical drill-hole database. An initial round of five drill holes is planned, including triple-tube
coring in order to provide preserved and oriented core from the intersection of the lake sediments
and the bedrock.
In addition, a 3,000 metre RAB drilling programme commenced today (Monday) at Mincor’s South
West Widgie gold prospect, where an extensive gold-in-soils anomaly coincides with historical gold
workings, a favourable structural and lithological setting, and insignificant previous drill testing.
The South West Widgie Prospect includes a defined zone of auriferous quartz veining called the
Double Eagle Prospect, on which a programme of RC drilling is planned immediately after the first
round of drilling at the Gilligan Prospect.
Mincor is a well-established and profitable nickel producer currently operating four mines in the
Kambalda Nickel District. The Company recently announced a major regional and extensional
exploration drilling programme, with a budget of over $4 million, targeted at adding 50,000
tonnes of nickel metal to its resource base by the end of the financial year.
The information in this report, insofar as it relates to resource estimation and exploration activities, is based on
information compiled by Jim Reeve, a person who is a member of the Australasian Institute of Mining and Metallurgy
and who has more than five years experience in the field of activity being reported on. This report accurately reflects
the information compiled by Jim Reeve.
- ENDS -
RELEASED BY: ON BEHALF OF:
Jan Hope / Nicholas Read Mr David Moore, Managing Director
Jan Hope & Partners Mincor Resources NL
Telephone: (+61 8) 9388 1474 Telephone: (+61 8) 9321 7125
Website: www.mincor.com.au

Well done guys.

Cheers.