- Mincor Resources (MCR) records two new significant high-grade massive sulphide intersections at Location 1 in Western Australia
- Drilling began in the June quarter to determine whether a potential channel beneath a magnetic anomaly could host nickel sulphide mineralisation
- Additionally, these intersections returned up to 17.9 per cent nickel
- Mincor is currently considering a name change for Location 1 and will update the market in due course
- Shares in Mincor are up 3.38 per cent on the market and are trading at $1.38 at 1:08 pm AEST
Mincor Resources (MCR) has recorded two new significant high-grade massive sulphide intersections at Location 1.
Location 1 lies north of the Wannaway Nickel Mine which is 17 kilometres northwest of Mincor’s Cassini Operations in Western Australia.
Drilling at Location 1 began in the June quarter to determine whether a potential channel beneath a magnetic anomaly could host nickel sulphide mineralisation.
Mincor’s recent drilling was undertaken to test electromagnetic (EM) plates identified from down-hole EM surveys completed on two holes.
This led to the discovery of two significant new intercepts located roughly 100 metres apart.
Significant new results include 0.8 metres at 5.4 per cent nickel with a maximum assay of 0.1 metres at 17.9 per cent nickel; and 1.2 metres at 3.5 per cent nickel including 0.4 metres at 4.4 per cent nickel.
Managing Director David Southam commented on the drilling program and the results received.
“Location 1 is emerging as an exciting early-stage greenfields location. While our drilling so far has been designed to confirm structure, we have also intersected massive sulphides twice now,” Mr Southam said.
“As a result of this early success, Location 1 has now been elevated within Mincor’s exploration ranking matrix given the economic significance of the result, the strike extent encountered to date and the confirmation of a prospective channel structure with confirmed nickel sulphide mineralisation.”
Mincor is currently considering a name change for Location 1 and will update the market in due course.
Shares in Mincor are up 3.38 per cent on the market and are trading at $1.38 at 1:08 pm AEST.