Mount Ridley Mines Limited (ASX: MRD) – $0.025 (+4%)
23 Mar 2015
Mount Ridley Mines Limited (ASX: MRD) has received further assay results from aircore drilling at its 100% owned Mt Ridley Nickel Project in the Albany-Fraser Range Province of Western Australia (Figure 1).
Figure 1. Location of Mt Ridley Nickel Project
The results are from the last 32 drillholes of the maiden 92 hole aircore drilling program from resampling of initial four metre composite samples down to one metre sample intervals.
- 23 metres at 0.23% nickel and 49ppm copper from 32 metres including 3 metres at 0.35% nickel from 52 metres
- 6.0 metres at 0.20% nickel and 230ppm copper from 64 metres
- 7.0 metres at 0.27% nickel and 63ppm copper from 43 metres including 0.45% nickel from 46 metres
Stronger nickel mineralisation is focused at or near the transition zone, which is the boundary between partly oxidised rock and fresh rock. Most nickel mineralisation results returned to date are observed near the end of hole within the bottom few metres.
The main nickel bearing sulphide is pentlandite, however supergene variants of pentlandite including violarite and millerite have been confirmed. Other sulphides such as pyrite, pyrrhotite, magnetite and chalcopyrite have also been identified.
The company is currently undertaking a ground moving loop electromagnetic survey over Targets 19 and 20. Diamond drilling is due to commence in early to mid April 2015.
For further information, visit www.mtridleymines.com.au
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