Around the Traps ... with THE FERRET (JBWERE)ASXAnnouncements...

Around the Traps ... with THE FERRET (JBWERE)

ASXAnnouncements


Sydney - Wednesday - Dec 5: (RWE Australian Business News) -
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SIRIUS RESOURCES (ASX:SIR) was a mining speculator's delight after the skyrocket from 5c to as high as $3.28 on November 7 on the back of a run of hot announcements on its Nova nickel find.
When the announcements became less hot the market ardour also cooled, to as low as $1.85 last Wednesday, before bouncing to $2.21 on Monday.Now the market is reluctant to get excited over seemingly better
news. The shares yesterday rose to $2.38, but drifted to close at a steady $2.21.
Sirius reported that further drilling of the induced polarisation (IP) anomalous corridor some 500m to the north of the Nova deposit had confirmed the presence of a broad zone of sulphide mineralisation down-dip from previous drilling.
This zone has been called the Tethys prospect.
"The presence of significant thicknesses of mineralisation at Tethys and conductor 5, together with the indication that mineralisation is improving at depth in both areas, further suggests that the entire western contact of the Eye is 'live' and highly prospective," managing director and CEO Mark Bennett said.
"This also increases confidence in the likelihood of conductor 3 being part of the same system."