South Boulder Mines reports stunning results from Duketon Nickel Project

South Boulder Mines (ASX: STB) has reported on latest drilling of 10 holes by Independence Group (ASX: IGO) at the Rosie Prospect at the Duketon Project, Western Australia - and the results were stunning.

The results are as follows:
- Hole TBDD098 intersected 3.3m (true width) at 9.13% Ni, 1.09% Cu, 0.21% Co and 7.09g/t PGEs (2.20g/t Pt, 1.74g/t Pd, 0.82g/t Rh, 1.79g/t Ru);
- Hole TBDD093 intersected 1.8m (true width) at 3.20% Ni, 0.41% Cu and 2.37g/t; Pt+Pd and
- Hole TBDD086 intersected 3.9m (true width) at 2.23% Ni, 0.63% Cu and 2.51g/t Pt+Pd.

Nickel sulphide mineralisation intersected over 750m of strike and 400m of dip indicating a large system which remains open at depth and along strike.

In early 2004, South Boulder entered a farm-out Joint Venture (JV) Agreement with Independence, whereby Independence can earn a 70% interest in the nickel rights on tenements held by South Boulder in the Duketon Project, by the completion of a Bankable Feasibility Study within 5 years of grant of the relevant tenement.

IGO recently completed a drilling program at the Rosie Prospect which was discovered last year. The program at the Rosie Prospect consisted of 15 drill-holes, of which 13 holes effectively tested the target position. A further two holes were ineffective.

The current program was planned to test the target zone on broad spacings (50-200m centres) in selected parts of the target zone and to test the strike extent of the mineralisation.

The potential for further mineralisation is supported by preliminary interpretation of the down-hole transient-electromagnetic (DHTEM) survey results from holes TBDD093 and TBDD098 which suggests that the strongest mineralisation is situated between these holes and continues steeply down plunge to the north west.

http://www.proactiveinvestors.com.au/companies/news/6249/south-boulder-mines-reports-stunning-results-from-duketon-nickel-project-6249.html