NMI: 25% Blair North - In trading halt pending significant drilling results
CRB: 30% West Kalgoorlie ProjectSIGNIFICANT INTERSECTIONS ADVANCE WEST KALGOORLIE PROJECT
The West Kalgoorlie JV (Carbine Resources earning up to 70% from Cazaly Resources Ltd ASX: CAZ) has recently completed an RC drilling program over several prospects within the Ora Banda and Kunanalling Project Areas. Best hits from the program are: Sabrina Prospect 4m @ 22.8 g/t Au from 68m Picante Deposit 9m @ 3.30 g/t Au from 81m 10m @ 3.64 g/t Au from 94m 8m @ 2.48 g/t Au from 93m 8m @ 2.98 g/t Au from 108m Boundary Prospect 4m @ 7.61 g/t Au from 36m 1m @ 34.7 g/t Au from 44m 7m @ 3.33 g/t Au from 126m 12m @ 2.02 g/t Au from 100m 2m @ 9.14 g/t Au from 93m A drill program is due to commence on the Backflip prospect in the Grant’s Patch Project Area in early June following up previous high-grade intercepts from the 2007 drilling program which included 19m @ 13.2 g/t Au from 108m, 2m @ 12.3 g/t Au from 123m, 3m @ 16.0 g/t Au from 121m, and 9m @ 16.1 g/t Au from 94m.
POS:ASX Announcement 23 April 2008
Poseidon Nickel and Proto Resources to form Joint Venture to Explore at the Menzies Nickel Project
Poseidon Nickel and Proto Resources are pleased to announce that they have executed a Heads of Agreement to form a Joint Venture with the aim of defining and developing a mineable Nickel resource at the Menzies Nickel Project. The Menzies project is prospective for both Nickel Laterite and Nickel Sulphide mineralisation. The rationale for the Joint Venture is: • Tenements have proven nickel laterite intersections (see below) • The Menzies project contains 23sqkm of ultramafic rocks which are prospective for nickel sulphide exploration. • Menzies is approximately 180kms from the potential concentrator plant to be built at Poseidon Nickel’s Windarra Nickel Project. • Proto Resources is currently developing the Barnes Hill Nickel Laterite project in Tasmania and is seeking additional laterite inventory for development from the Menzies Joint Venture. • Poseidon & Proto believe that a jointly funded programme will accelerate exploration and that the two companies can provide project development opportunities and synergies. Poseidon and Proto shall contribute in equal shares to the Joint Venture and shall each finance their share into production. Proto currently holds the Project in Joint Venture with Cazaly Resources Ltd (“Cazaly”), holding 90% of the nickel laterite rights, 50% of the nickel sulphide rights and 70% of the gold rights. Cazaly Resources will continue to hold its interests and will be free carried to completion of a bankable feasibility study. The Menzies Nickel Project is a multi-commodity advanced exploration project including nickel laterite, nickel sulphide, cobalt and gold, previously worked by BHP. The project consists of 36 tenements in a continuous block located 10km south of the township of Menzies, about 130km north of Kalgoorlie in Western Australia. Substantial nickel intersections known from prior drilling at Menzies include: Historical MZR01: 8m @ 1.21% Ni & 0.073% Co (from 20m to 28m) 22 October 2004 New MZR01: 11m @ 1.16% Ni and 0.07% Co, inc. 7m @ 1.39% Ni and 0.08% Co (18 to 25m) Historical MZR02: 4m @ 1.00% Ni & 0.052% Co (From 20m to 24m) 22 October 2004 New MZR02: 5m @ 1.00% Ni & 0.04% Co (from 19 to 24m) Historical MZR04: 12m @ 1.72% Ni & 0.127% Co (From 16m to 28m) 22 October 2004 New MZR04: 14m @ 1.72% Ni and 0.13% Co, inc. 12m @ 1.92% Ni and 0.14% Co (16 to 27m) Historical MZR05: 4m @ 1.40% Ni & 0.068% Co (From 32m to 36m) 22 October 2004 New MZR05: 7m @ 1.28% Ni & 0.063% Co (from 30 to 37m)
GDA: Cazaly 80% IO rights at Parker Range.
Cazaly has not been idle since Shovelanna.
Cazaly also holds a range of other tenements.
Not to mention Rhodes Ridge.
DYOR
CAZ Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
