Perth, May 8, 2008 AEST (ABN Newswire) - Emerging nickel producer Nickelore Ltd (ASX: NIO) is pleased to announce the first stage of a drilling program at the Goongarrie East Project in the North East Goldfields. The Company acquired 100% of 318 km2 of the tenements (all of which have been granted) from Monarch Gold Mining Company Ltd in August 2007.
Drilling has commenced this week on the site to follow up the ground magnetic survey over airborne magnetic anomalies, completed last quarter. A thirty-five line kilometre survey was conducted over ten sites in four of the five Goongarrie East tenements. The survey identified wholly concealed ultramafic rocks, potential hosts for nickel sulphide bodies similar to those nearby at Ringlock Dam.
During this exploration program, the Company intends to drill a minimum total of 1,200 metres of drilling consisting of 29 RAB holes.
The tenement package at Goongarrie East Project covers the following tenement holdings - E24/140,E29/524, E29/543, E29/572 and E29/573.
Managing Director, Iggy Tan said says the southern half of the Goongarrie East Project contains the interpreted northern extension of the same ultramafic belt that hosts the Black Swan and Silver Swan nickel sulphide deposits. "The tenements are only 40kms northwest and along strike from Black Swan and Silver Swan and only 11kms along strike from the Scotia East nickel sulphide deposit".
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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