Lindian Resources unveils highly encouraging RC drilling results from Dinguiraye Project

Shares in Perth-based mineral exploration company Lindian Resources (ASX: LIN) jumped 5c after the company received "highly encouraging" results for the first 9 holes of a reverse circulation drill programme at the company's Dinguiraye Platinum-Nickel-Copper Project in Guinea.
During the afternoon trade, shares in the company shot up 5c, or 25%, to 25c.
The 27 hole, 1,876m RC programme was designed to test the extensive Pt-Ni soil geochemical anomalism associated with the Dinguiraye intrusive, with results from the drill traverse demonstrating the presence of elevated Pt, Ni and Co values within the regolith.
Maximum values are Pt 975ppb (0.97 g/t), Ni 5,305ppm (0.53%) and Co 2,129ppm (0.213%). The Pt occurs within the upper ferruginous laterite between 0m and 13m depth. The elevated Ni and Co values are for the most part coincident, forming a layer from 11m to 19m in thickness in holes DRC001, 002, 003, 004 and 009, over a width of 320m commencing from depths of 9m to 11m.
Lindian Chairman Reg Gillard said the initial results were considered highly encouraging as they demonstrated the presence of elevated levels of Pt, Ni and Co forming laterally continuous zones within the laterite.
"Given the large extent of the soil anomalies, approximately 25km of strike length in total, there is excellent potential to define economic mineralisation," Mr Gillard said.
At present Nickel is US$18,000 / tonne, Cobalt is US$48,000 / tonne (US$22 / pound) and Platinum is US$1,500 / ounce.
Cobalt is enjoying a strong recovery on the expected increase use in Lithium Cobalt batteries for Hybrid cars.
The only other known Ni laterite deposit in Africa, Dutwa was discovered by African Eagle Resources in Tanzania.
The Ni laterites at Dutwa are acid leachable at atmospheric pressure with recoveries quoted averages of at 80-95% for Ni and 70-85% for Co. Acid leach at atmospheric pressure avoids the high capital cost of High Pressure Acid Leach (HPAL) plants used for processing the Nickel Laterites in Western Australia.
The results of the remaining 18 holes are expected in early February, with further drilling planned for March/April 2010.  http://www.proactiveinvestors.com.au/companies/news/4109/lindian-resources-unveils-highly-encouraging-rc-drilling-results-from-dinguiraye-project--4109.html