nova exploration update

NOVA EXPLORATION UPDATE
Sirius Resources NL (ASX:SIR) (“Sirius” or the “Company”) advises that
drilling is proceeding at its Nova nickel-copper deposit, as follows:
Nova
Drilling is continuing around the periphery of the Nova deposit to define
its limits (see Figure 1). Infill drilling on 50 metre spaced lines is also
continuing. Infill drilling on the 750N line intersected:
? 24.68 metres of mixed (massive, breccia and disseminated)
sulphides from 327.9 metres in hole SFRD0113.
Assays have been received for more holes, with key results including:
? 47.2 metres @ 1.86% nickel and 0.57% copper from 298
metres, including 36 metres @ 2.23% nickel and 0.65% copper
from 309.2 metres, including 3.05 metres @ 6.1% nickel and
1.31% copper from 309.2 metres in hole SFRD0058, drilled on
the 700N line.
? 16.6 metres @ 1.31% nickel and 0.54% copper from 307
metres, including 2.2 metres @ 4.02% nickel and 1.18% copper
from 321.4 metres in hole SFRD0093, drilled on the 800N line.
Nova north (north of the fault) & conductor 5
Electromagnetic (EM) surveying north of the fault at Nova has not
defined a continuation of the EM conductor associated with the Nova
deposit where expected. A potentially deeper EM response has been
detected but it is not possible to model this due to the masking effect of
the Nova deposit itself. Alternatively, conductor 5 and the associated
induced polarisation (IP) anomaly may represent the continuation of the
mineralisation north of the fault.
Drilling will now test conductor 5, which appears to be related to zones of
disseminated sulphides previously intersected in hole SFRD0013 (the
easternmost hole drilled on the 800N line) and in hole SFRD0095 (the
easternmost hole on the 900N line). SFRD0095 intersected 18.21 metres
of disseminated sulphides including 5.8 metres of stringer and vein
sulphide.
Figure 1 shows the relationship between conductor 5, the disseminated
sulphides intersected in holes SFRD0013 and SFRD0095, and the strong
induced polarisation (IP) anomaly seen on lines 900N and 1300N.
SIRIUS RESOURCES NL
ASX: SIR
ABN: 46 009 150 083
Street address:
Unit 5, 5 Mumford Place, Balcatta
6021, Western Australia
Postal address:
PO Box 1011, Balcatta 6914,
Western Australia
Tel: +61 8 9240 8914
Fax: +61 8 9240 8915
Email:
[email protected]
Web:
www.siriusresources.com.au
Projects:
Fraser Range nickel-copper, gold
Polar Bear gold, nickel
Canyon Creek molybdenum,
copper, gold
Youanmi nickel, copper, PGM‘s
Collurabbie nickel, copper, PGM’sSirius Resources ASX/Media Announcement 2
Conductor 4
Downhole EM (DHEM) on conductor 4 using hole SFRD0099 (the first hole drilled into sulphides at conductor
4) has defined a broad low intensity conductor and a small offhole conductor. The broader conductor may
reflect a zone of disseminated or stringer mineralisation and the small offhole conductor may reflect the
presence of a lens of massive sulphide mineralisation.
Drilling has recommenced at conductor 4 to test these anomalies and will continue for the next two weeks.
Mark Bennett, Managing Director and CEO