Drake Resources makes significant new sulphide mineralisation find at Granmuren prospect
Thursday, December 20, 2012 by Proactive Investors
Drake Resources(ASX:DRK) has found significant new discovery of sulphide mineralisation at its Granmuren nickel-copper prospect in Sweden.
A hole targeting a recently identified strong conductor at the prospect intersected almost 200 metres of disseminated copper-nickel bearing sulphides.
This new target was an intense conductor recently identified from down hole and surface electromagnetic (EM) surveys and is located to the north east of the previously drilled section.
The conductor is an order of magnitude stronger than the mineralised conductors already drilled.
The hole was drilled to a depth of 221 metres and intersected disseminated iron sulphide (pyrrhotite) from 10 metres to 208 metres down hole.
Three zones of 10% to 30% disseminated sulphides are present at 80 to 95 metres, and 142 to 173 metres, and 193 to 202 metres.
The mineralisation returned intersections including 16 metres at 0.32% Ni, 0.50% Cu and 0.03% Co.
Drake's down hole EM survey also confirmed an off hole conductor below the current hole drilled. This conductor will be drill tested in the current program by extending the original hole.
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