Perth, Jan 16, 2008 AEST (ABN Newswire) - Nickelore Ltd (ASX:NIO) today announced results from infill RC drilling at the Big Blow North prospect in M24/890 at it's Bardoc Gold Project, 50 kms north of Kalgoorlie.
The ten-hole Reverse Circulation ("RC") drill program included intersections of 4m @ 6.8 g/t Au from 19 metres, 4m @ 3.5 g/t Au from 53 metres, 4m @ 2.6 g/t Au from 30 metres and 3m @ 2.5 g/t Au from 26 metres.
The majority of these drill intersections in the mineralised zone at Big Blow North are less than 40m below the surface, supporting the potential for an open-pit mining operation at this prospect. At the southern limit of drilling, the mineralised intercepts are wider but of lower grade. The mineralisation is still open to the south and at depth.
Managing Director, Iggy Tan said that work on a JORC-compliant resource estimate was in progress and should be completed at the end of February 2008.
"The Company plans further drilling at Big Blow North in order to extend the current mineralised zone southward and to test the continuity and grade at depth in the higher grade zone.
"We are delighted with the latest results and plan to continue work to improve the value of our gold assets. "At the same time, we will maintain a strong focus on the flagship Canegrass nickel project in the same region," said Mr Tan.
The information in this report that relates to Exploration Results is based on information compiled by Andrew Radonjic a Non Executive Director of Halcyon Group, who is a member of The Australasian Institute of Mining and Metallurgy. Mr Radonjic has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Radonjic consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
Contact
Iggy Tan
Managing Director
TEL: +61 8 9481 2433
email: iggy@nickelore.com.au
John Nayton
External Affairs
TEL: +61-422-414-983
email: naytoncom@bigpond.com
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