nickel sulphide targets defined at burkin wa

Announcement out today regarding aeromagnetic surveys at Burkin. They have defined 3 likely prospects and have notified BHP under the terms of the farm in agreement. BHP have 30 days to notify of their intention to exercise their rights.

This makes for some interesting speculation about potential announcement streams. Given that there is nickel all over the place in WA (often not commercial though) and that the anomalies are at reasonably shallow depths my guess would be that BHP would roll the dice and fund initial exploration. We could thus hope for a positive response within the 30 days with a potential drill program for the first 3 holes in a few months.

Then there should be an announcement out soon on the assay results on the 60m copper intercept from Mt Gunson at Chianti prospect plus some further drill results from the ongoing drilling in the area by Xstrata.

Finally the negotiations with Citec over the Coburn zircon project should come to final stage in the next 2 months - perhaps end of financial year will see it inked off?

A very interesting period ahead for the company and all effectively being funded by other parties.