niplats advances east kimberley project

NEWS

12:55 PM Apr 24, 2008



Niplats advances East Kimberley project

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Source: News Bites

Niplats Ltd confirmed a second platinum group elements zone at East Kimberley tenement area in Western Australia during the three months to March 31, 2008.

The company identified several large vanadium exploration targets within the tenements, including 2 exploration targets of 300-600 Mt at grades between 0.3-0.4% V2O5. The company confirmed a PGE+Au 5-7 m thick reef associated with the vanadium with a maximum 0.2 m interval of combined PGE + Au of 0.69 g/t. The second zone had maximum single metre vales of 0.26 g/t PGE + Au.

The priority focus for the 2008 exploration program is to further drill the two large exploration targets of 300-600 Mt at grades of 0.3-0.4% V2O5. A drilling program to test for PGE mineralisation within these targets may also result in a resource being established in 2008.

The company identified a copper-gold zone along the Greenvale Fault that is associated with the fluorite and contains 19m at 0.37% Cu, with a best single metre intercept of 1.78% Cu. Best gold values were 0.62 g/t Au, from a single metre within a copper mineralised zone.

Significant fluorite intersections assayed during the quarter include:

43m at 22.29% CaF2, including 25m at 32.07% CaF2

37m at 22.8% CaF2, including 24m at 30.0% CaF2

25m at 34.86% CaF2

These fluorite intersections are currently being assessed to determine whether a resource upgrade to the existing resource can be completed.

The company had no receipts from customers during the quarter. Net operating cash outflow was $394,000 and the cash balance was $2.8 million.

STOCK DASHBOARD: April 24, 2008

Niplats Australia

Price at 10:20 am: 35.0c

Relative Strength (6 months percentile rank): 23.4

Market capitalisation: $11 million

Turnover volume: 30,000.0

Volume Index (1 is average): 0.1

Turnover value: $10,500

Turnover period: 11 months

Value of $1,000 since listing on September 21, 2007 : $1,750

Source: www.BuySellTips.com