Thanks MiningNews.netEmu Lake returns narrow high grade...

Thanks MiningNews.net

Emu Lake returns narrow high grade hits

Rebecca Keenan


Friday, July 09, 2004
JOINT venture partners Image Resources and Jubilee Mines are discussing the options for the exploration campaign at the Emu Lake nickel project, after latest results returned high grade intersections which were more narrow than previously encountered.

Diamond drilling was conducted around a previous high grade intercept of 2m at 6.2% nickel and 1.78% copper, and while the results were positive, they were not of the same high grade or width. Best intercepts included 0.28m at 6.66% nickel and 0.24% copper from 377m and 1.08m at 1.52% nickel and 0.20% copper from 302m.

"It is good grades and they have confirmed the massive sulphides we hit in the previous drilling extending over that 150m high length," said Roger Thomson, managing director Image Resources, which holds a 30% stake in the project.

"They are still fairly narrow intercepts and the challenge is to find out where they are thickening."

One of the options for the exploration is to continue down the plunge dimension of the zone. A decision on how to proceed is expected to be made in the next month.

Thomson said it was too early to discuss the future of the project, but said they were in the right area.

Shares in Image increase nearly 7% to 48c, while Jubilee shares were relatively unchanged at $4.40.