NICKEL producer Mincor has reported drilling at the Durkin North prospect near Kambalda has intersected high-grade massive and matrix nickel sulphides 80m beyond the current resource boundary.
The most recent drilling at Durkin North, formerly called Durkin Deeps, intersected 3.42m at 7.86% nickel from 716.6m (true width 1.55m) and 3.10m at 2.98% nickel from 676.8m (true width 1.41m).
Mincor said one of the new intersections is partially obscured by porphyry intrusion, meaning the mineralisation in the immediate vicinity could be substantially thicker.
The new intersections lie about 80m to the east of two intersections grading 4.2m at 4.38% nickel (true width 1.91m) and 1.44m at 8.05% nickel (true width 0.61m).
“These results prove up a significant extension to the mineralisation at Durkin North,” Mincor managing director David Moore said.
“We are continuing to pursue the ore system to the east and are very encouraged by the latest results, which demonstrate good continuity of mineralisation despite the depredations of the intrusive porphryry.”
The Durkin North prospect is part of Mincor’s Northern Nickel Division, which includes the Otter Juan, Coronet and Carnilya Hill deposits.
A feasibility study is underway at the project based on an interim resource of 374,500 tonnes at 5% nickel for 18,800t of contained nickel metal.
Mincor, Australia’s third-largest listed nickel producer, is targeting a production rate of 20,000t of nickel in ore a year and has eight drill rigs active in the Kambalda Nickel District of Western Australia.
Shares in Mincor closed 12c or 3.5% down to $3.31 this afternoon.
MCR Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
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