nia getting +ive media
Mining News article today
Niagara in demand
Ben Sharples
Monday, March 27, 2006
INVESTORS appear to be warming to Niagara Mining and its prized Mt Windarra project in Western Australia, with recent drill results pushing the company's shares to a 52-week high.
Mount Windarra nickel project in Western Australia
Drilling at the ex-WMC asset intersected a zone of "high tenor" massive sulphides returning hits of 9.82m at 6.06% nickel, including 4.62m at 10.33% nickel.
Niagara says the result supports the company's belief that a high tenor orebody could exist around 150m below the previously mined deposit, with a second hole being planned to test the down hole plunge extent of the sulphides.
Shares in Niagara gained more than 15% when the market opened to hit a 52-week high of 30.5c before settling at 28c in morning trade.
WMC pulled around 84,600 tonnes of nickel from the Mt Windarra mine before low nickel prices brought the operation to a halt in 1991.
Niagara picked up the Windarra ground near Laverton late last year from BHP Billiton's nickel division – Nickel West – for $A7 million plus another $1 million to be paid after the production of 10,000t of nickel.
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