GRADE WIDTH NICKEL-COPPERINTERSECTIONS CONFIRMED AT NOVASirius...

GRADE WIDTH NICKEL-COPPER
INTERSECTIONS CONFIRMED AT NOVA
Sirius Resources (ASX:SIR) has undertaken preliminary XRF analysis
1
of
the sulphide zones intersected in holes SFRC0026 and SFRC0027 at the
Nova nickel discovery. These holes were drilled a considerable distance
either side of the discovery hole at Nova which intersected 4 metres @
3.8% nickel and 1.42% copper:
? Hole SFRC0026, drilled 55 metres up-dip from the discovery
hole, intersected 13 metres averaging 4.1% nickel and 2.2%
copper
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from 123 metres, including 6 metres averaging 6.1%
nickel and 2.6% copper
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from 128 metres.
? Hole SFRC0027, drilled 50 metres down-dip from the
discovery hole, intersected 5 metres averaging 2.0% nickel
and 0.4% copper
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from 233 metres, within a broader
intercept of 9 metres averaging 1.2% nickel and 0.7%
copper
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from 229 metres. Importantly, this intersection also
contains a metre interval of massive sulphide grading 4.1%
nickel, indicating that high grade massive sulphides
continue down dip.
? The intersection angles indicate that these are likely to be
true width intersections.
? Significant grade-width intercepts have now been obtained
in three holes over a distance of at least 110 metres on this
drill section alone.
? This mineralisation remains open and undrilled down dip on
this drill section and the EM anomaly indicates potential for
a further 150 metres dip extent of sulphide mineralisation.
A single hole drilled some 50 metres to the south of the discovery drill
section, to delimit the extreme up-plunge end of the target, did not
intersect sulphide mineralisation. This is the first of an additional six RC
holes to be drilled south and north of the discovery drill section.
RC drilling is continuing to scope the uppermost tip of the EM target and
a diamond drill program is scheduled to commence next week. This
program will initially scope the extent of the mineralisation and infill
drilling will then determine its internal continuity. All of this will be
undertaken in conjunction with systematic downhole electromagnetic
(DHEM) surveys to guide and optimise the drilling.
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
In parallel with this, the Company will commence preliminary metallurgical characterisation of the
mineralisation as soon as is practicable.
Sirius’ managing director Mark Bennett said “these preliminary results are very encouraging as they are good
grade and width over a considerable distance. The next step is to determine how far the mineralisation
extends down plunge to the north, and how consistent it is”.
“We are gearing up for a diamond drill program and while we push forward with this we will also be doing
some preliminary work on the metallurgical characteristics of the mineralisation in order to get an early feel
for the flotation and metal liberation characteristics of the sulphides and the levels of those elements which
can potentially add to or detract from value of any concentrate” he said.
Mark Bennett, Managing Director and CEO
Important note 1: The preliminary XRF analyses quoted in this announcement are based on averaged results
from a Niton portable XRF spectrometer. Please note that these results are considered indicative but not
diagnostic, and may vary from formal laboratory assays, which are expected in approximately three weeks.
About the Nova nickel discovery
? The Nova deposit is a blind (ie concealed by transported sediments) virgin discovery which
vindicates Sirius’ exploration methodologies and corporate strategy of identifying high leverage
greenfields opportunities in stable jurisdictions.
? It was discovered by Sirius’ target identification expertise and systematic use of geological,
geophysical and geochemical exploration techniques.
? Based on the size of the associated EM conductor (1,000 x 300 metres) and its close association
with the nickel-copper mineralisation intersected to date, the Nova deposit could be a very large
massive nickel-copper sulphide deposit.
? The EM conductor that represents the Nova deposit is the first of three EM targets at the Eye
nickel-copper prospect to be tested. The others have not yet been drilled but modelling by
Newexco Geophysical Consultants indicates that these also possess response characteristics
indicative of massive sulphides.
? The mineralisation comprises pyrrhotite, pentlandite and chalcopyrite within very strongly
metamorphosed rocks termed granulites. The sulphide minerals are high tenor and will likely
produce a high value concentrate and the accompanying silicate minerals are unlike those found
in most Goldfields-style nickel deposits, so the mineralisation is likely to be highly amenable to
conventional separation techniques. The host granulites contain garnet, quartz, pyroxene and
feldspar.
? The deposit is only 40km north of the Eyre Highway and closer, via sealed road, to the port of
Esperance than any nickel mine in Western Australia.Sirius Resources ASX/Media Announcement 3
? Planned metallurgical testwork will better quantify the mineralisation in terms of its crushing,
grinding and flotation characteristics, the deportment of nickel and copper within the sulphides
and the level (if any) of any deleterious or penalty elements in such a concentrate.
About the Fraser Range Joint Venture
The Fraser Range Joint Venture is a joint venture between Sirius Resources (70%) and Mark Creasy (30%),
who is also Sirius’ major shareholder. The joint venture ground covers over 100 strike kilometres of the
prospective belt and Sirius, together with Mark Creasy, control the majority of this new nickel province.