- Ark Mines (AHK) completes its 2000-metre drill program, expanding the scope of a 2004 JORC MRE for its Gunnawarra Nickel Cobalt Project in Queensland to 2012 JORC status
- The 2004 JORC inferred resource for “the Pod” of 280,000 tonnes at 0.73 per cent nickel and 0.05 per cent cobalt will likely increase when Ark finalises the upgrade
- For its first phase drill program at Gunnawarra, Ark deployed a larger air rig with air boosting capability which was able to significantly expand the footprint of “the Pod”
- Results from the assays dispatched to NAL in Pine Creek are expected in May
- AHK shares are down 10.1 per cent, trading at 40 cents
Ark Mines (AHK) has completed its 2000-metre drill program, expanding the scope of a 2004 JORC historical mineral resource estimate (MRE) for its Gunnawarra Nickel Cobalt Project in North Queensland to 2012 JORC status.
The 2004 JORC inferred resource for “the Pod” of 280,000 tonnes at 0.73 per cent nickel and 0.05 per cent cobalt will likely increase when Ark finalises the upgrade of the historical resource.
Based on a review of Metallica Minerals’ (MLM) historical data by Ark’s technical team, the company has determined that Metallica only drilled to a depth of 32 metres, and of the 56 holes drilled, many were abandoned due to poor recovery.
“Identifying this historical resource estimate has proven to be incredibly valuable for Ark, and based on the data we have reviewed and due to the fact that we have been able to execute a much more comprehensive drill program over and around what is only our first target at Gunnawarra,” Executive Director Ben Emery said.
“We are only just getting started at Gunnawarra and we look forward to reporting first assays and defining the next steps of our works program here.”
For its first phase drill program at Gunnawarra, Ark deployed a larger air rig with air
boosting capability which was able to significantly expand the footprint of “the Pod”.
The company then drilled the areas of previous poor recovery which encountered mineralisation and to drill up to depths of 60 metres in the laterites, almost twice the depth from which the historical resource is defined.
It is anticipated that the deposit is still open to the Southeast.
Results from the assays dispatched to NAL in Pine Creek are expected in May.
AHK shares were down 10.1 per cent, trading at 40 cents at market close.