gaps created from the buyers who are missing out on the short runs..
0.55% for Nickel are fine.. if the reef is long we could have an economic find to add to the gold prospects is LAOS.
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ASX ANNOUNCEMENT Argonaut Resources NL (ASX: ARE) is pleased to announce that significant nickel mineralisation has been intercepted on another of the Company’s prospects at the Century tenement in Laos. The latest discovery – on the Company’s Vang Ma West prospect – follows Argonaut’s 27 February 2008 announcement of its initial Laos nickel intersection at the Nam Hone East prospect (Figure 1). Argonaut has altogether identified nickel mineralisation associated with gabbroic (mafic) rocks at three prospect areas within its Century block near the border between Laos and Thailand. Vang Ma West The ore grade nickel intercept announced today at the Vang Ma prospect in the north of the Century tenement is a result of initial trenching across nickel anomalies, defined previously by soil sampling. Trench VMTR59 intersected 63m at 0.39% Ni including 28m at 0.55% Ni. Trench VMTR58 intercepted 68m at 0.20% Ni. The nickel anomalism at Vang Ma West extends over a strike length of 700m (Figure 2). The mineralisation at Vang Ma West appears to be the same style as Nam Hone East, specifically finely disseminated nickel sulphides associated with a serpentinised zone within a mafic (gabbroic) intrusion. On 22 March 2008 the company commenced a program of trenching designed to confirm the strike extent of the ore grade mineralisation at Vang Ma West. This work will be completed before Lao New Year on 13 April. Lao New Year typically coincides with on the onset of the wet season. Other nickel anomalies at Vang Ma are yet to be investigated. New nickel sulphide strike by Argonaut in Laos 26th March 2008
ARE Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
