range: 'disappointing' assay
for those who have not caught up yet
Sydney - Monday - January 10: (RWE Australian Business News) - Range Resources today said an announcement released on December 24 had stated that significant sulphide mineralisation was encountered at the base of drillhole FSTRC17 in Forrestania, and that the company's consulting geologist had interpreted this sulphide occurrence to be potentially nickeliferous. "Preliminary assays have shown that the significant sulphide mineralisation located within FSTRC17 contains only very low-grade nickel not of economic significance," the company said today. Assays completed to date for 202m to 216m down-hole, the massive sulphide occurrence within FSTRC17, indicate low levels of nickel (127ppm avg/0.01pc Ni), copper (39ppm avg), gold (8ppb avg) and platinum group elements (18ppb avg). Tests to determine the mineralogy of the sulphides are still being carried out. "The results of the assays, though initially disappointing, provides further information in understanding the geology and geochemistry of the Forrestania Greenstone Belt. "As the drillhole finished in sulphides and below a sedimentary pile, the source of the sulphides has not been determined," Range said. A further drilling program to be planned will test beneath this sulphide occurrence. Range shares will be reinstated to trading tomorrow. ENDS
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