Mincor Resources drilling intersects significant nickel at Miitel Mine, WA

Australian nickel producer Mincor Resources (ASX: MCR) has reported breakthrough exploration results from its Miitel Nickel Mine in Kambalda, Western Australia, with recent drill-holes intersecting strong, high-grade mineralisation at both the northern and southern ends of the Miitel ore system.

The breakthrough increases the potential for significant new discoveries beyond the current resources. The results open up the geological interpretation of the prolific Miitel ore system in both directions with Mincor now set to quickly ramp up its drilling efforts.

The Miitel Mine, historically Mincor’s strongest producer, is currently on care and maintenance but is capable of a rapid and low-cost return to production.

The first hole in this surface drilling program, which is being conducted using a deep-capacity diamond drilling rig, returned an outstanding intersection 420 metres beyond the boundary of the current Mineral Resource: SMD010: 10.15 metres @ 2.94% nickel (estimated true width 5.82 metres) from 789 metres down-hole.

The location and geology of this intersection are significant and could herald a major new discovery separate from and additional to the high-grade mineralisation discovered in recent months at South Miitel.

Strong mineralisation intersected in contemporaneous drilling at North Miitel (Burnett Zone) is in a position that re-opens the geological interpretation of this area and highlights the potential for a new discovery: 4.78m @ 4.86% nickel (estimated true width 2.74m) from 701.6m.

Commenting on the results, Mincor’s Managing Director, David Moore, said “we believe these are very significant results and really open up the whole exploration story at Miitel.”

“We now see strong potential confirmed at both the northern and the southern ends of the prolific Miitel ore system, and we intend to mobilise substantial resources to realise this potential over the next few months.”

“Together with the recent discoveries at Mariners and the enormous blue sky potential of our Ultra-Sized Nickel Ore Body drill program at North Kambalda, these latest results add up to a dynamic new exploration-driven growth story that is defining the future of Mincor’s highly successful Kambalda nickel business,” Moore said.

These results open up both ends of the ore system and potentially create a platform for the rapid delineation of new ore bodies.

A third diamond rig with deep-drilling capacity is currently being mobilised to pursue this emerging new potential.

http://www.proactiveinvestors.com.au/companies/news/5896/mincor-resources-drilling-intersects-significant-nickel-at-miitel-mine-wa-5896.html