- Cannon Resources (CNR) confirms high grade massive nickel sulphide intersections at the Sabre prospect within the company’s flagship Fisher East nickel project in WA
- Two diamond holes drilled earlier this month intersected significant widths of massive nickel sulphides within broader mineralised intervals
- The company says it will continue its infill drilling program to establish the lateral width and plunge extent of the mineralisation at the channel margin
- The company says it expects to receive its remaining assays by July, before launching a resource update at Sabre
- Cannon Resources is up 7.14 per cent, trading at 30 cents at 11:31 am AEST
Cannon Resources (CNR) has confirmed high grade massive nickel sulphide intersections at the Sabre prospect within the company’s flagship Fisher East nickel project in WA.
Two diamond holes drilled earlier this month were said to intersect significant widths of massive nickel sulphides within broader mineralised intervals.
The drilling returned results including 5.7 metres at 4.5 per cent nickel and one gram of platinum group element (PGE) per tonne (g/t) from 310.28 metres including 3.7 metres at six per cent nickel and 1.2 g/t PGE from 311.3 metres.
Cannon CEO Steve Lynn said the targeting program on the northern side of the Sabre channel has been a huge success.
“The latest assays from holes MFED117 and MFED118 confirm the high-grade nickel content of the massive sulphide mineralisation developed on the northern margin of the Sabre channel,” Mr Lynn said.
“The high-grade nickel mineralisation has over 250 metres of plunge extent and remains open across strike and up and down plunge.”
The company said it will now apply the same targeting methodology to other prospective zones at Sabre.
The diamond drill rig will remain at Sabre, where the company plans to continue to drill areas to assess their potential.
Cannon said it will continue its infill drilling program to establish the lateral width and plunge extent of the mineralisation at the channel margin. The drilling is hoped to determine geological controls on mineralisation and assist in future targeting.
The company said it expects to receive its remaining assays by July.
Once all assays have been returned, Cannon said it will launch a resource update at Sabre which is expected to result in an increase in both tonnes and grade.
Cannon Resources was up 7.14 per cent, trading at 30 cents at 11:31 am AEST.