THICK MASSIVE SULPHIDES AT CONDUCTOR 6 EXTEND BOLLINGER ? Thick massive sulphide intersections in first two holes at conductor 6 ? Likely to represent the southern continuation of Bollinger ? Open in all directions ? A further four holes still in progress ? Main part of gravity anomaly still to be drilled Sirius Resources NL (ASX:SIR) (“Sirius” or the “Company”) advises that the first two holes drilled to test conductor 6 have intersected thick zones of massive sulphides within a broad halo of lower grade disseminated mineralisation. This shows that conductor 6 is indeed massive sulphide and that it is likely to represent the southern extension of the Bollinger zone. The two holes completed over the weekend both intersected substantial zones of mineralisation as follows: Hole SFRD0262, drilled approximately 110 metres east-southeast of the >40 metre massive sulphide hit previously reported in hole SFRD0258 and 50 metres south of the 700N line, intersected: ? 79 metres of blebby and disseminated sulphide from 312 metres, followed by; ? 10.5 metres of stringer sulphide from 391.5 metres, followed by; ? 32.4 metres of mainly massive and breccia sulphide from 402 metres (see Figure 1), followed by; ? 2.6 metres of stringer sulphide from 434.4 metres. Hole SFRD0259, drilled 130 metres southeast of hole SFRD0258 and 70 metres southwest of hole SFRD0262, intersected: ? 50 metres of blebby and disseminated sulphide from 400 metres, followed by; SIRIUS RESOURCES NL ASX: SIR ABN: 46 009 150 083 Street address: Unit 5, 5 Mumford Place, Balcatta 6021, Western Australia 6021 Postal address: PO Box 1011, Balcatta, Western Australia 6914 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 Youanmi nickel, copper, PGM‘sSirius Resources ASX/Media Announcement 2 ? 14 metres of massive and breccia sulphide from 450 metres. These two holes confirm that conductor 6 is the southerly extension of Bollinger and that thick massive sulphide extends over 100 metres southwards from the original Bollinger discovery holes on line 700N (see Figure 2). The massive sulphides are similar to those seen at Nova, with coarse grained pentlandite (nickel sulphide) and chalcopyrite (copper sulphide) crystals clearly visible in the core. The blebby and disseminated zones appear to form extensive haloes above these massive sulphide zones. This zone remains open in all directions. Drilling is continuing to delineate this area and holes are also underway in several locations: north of the 700N line at the southern end of conductor 5; east of all previous drilling at Bollinger on the 700N line; and in the feeder zone between Bollinger and Nova. Drilling coverage will also expand to cover the remainder of the large gravity anomaly centred to the northeast of current drilling, which may reflect the presence of dense material such as massive sulphides or those rocks that may host sulphide mineralisation (see Figure 3). The maiden JORC resource estimate for Nova remains on track for completion in March.
SIR Price at posting:
$4.19 Sentiment: Hold Disclosure: Not Held