this from mining news.net

Nickel, gold encouragement for Falcon
Ben Sharples


Wednesday, March 09, 2005

FALCON Minerals says it has discovered a new nickel sulphide intersection at its Collurabbie joint venture in Western Australia after drilling hit 4m grading 1.34% nickel, 0.24% copper and 0.58 grams per tonne combined platinum and palladium.

The intersection was made 2.6km south of the mainstay Olympia prospect, near the Rhodes and Olympia boundary. Collurabbie consists of eight prospect areas including Agora, Argos, Leros, Olympia, Naxos, Paros, Rhodes and Zeus.

Falcon says the intersection is of a similar nickel grade to the first significant hole at Olympia and is planning additional ground electromagnetics and follow-up drilling.

Elsewhere drilling at the Agora zone 3km north of Olympia returned an intersect of 12m grading 0.61% nickel, 0.25% copper and 0.73gpt combined platinum and palladium.

A series of follow-up programs including surface gravity, ground electromagnetics and surface lag/soil sampling to detect unrecognised ultramafics has been planned, while an RC and diamond drilling campaign is also scheduled for the southern and northern ends of the Olympia zone.

Meantime preliminary metallurgical testwork is proposed for the Olympia nickel sulphide zone this month and April.

WMC Resources has a 70% interest in Collurabbie with Falcon holding the balance.

In other exploration updates, a series of low-grade anomalous gold intersections have been recorded at North Duketon (Collurabbie South) gold project after the completion of 5738m-aircore drill campaign.

Falcon says that while high gold grades have not been recorded, the broad low-grade intervals warrant further work. Falcon has drawn comparisons between North Duketon's structural setting and that of Placer Dome's Granny Smith gold operations near Laverton.

North Duketon is a JV project between Newmont who holds a 64% interest in the project and Falcon and Regis Resources. Falcon's interest is 20%.