Global Nickel Investments NL (ASX:GNI) Drilling Mobilisation within a Fortnight at Jutson Rocks
Sydney, Nov 28, 2011 AEST (ABN Newswire) - Following the successful announcement earlier this week of the highly encouraging first pass Bulk Leach Extractable Gold ("BLEG") geochemistry and auger drilling results in a known gold structural corridor, Global Nickel Investments NL (
ASX:GNI) has now finalised a drilling contract for a RAB drilling programme across a large portion of the multiple zones of anomalous gold that were identified in earlier auger drilling. These auger results included four samples exceeding 100ppb including a maximum value of 3,050ppb (3.05g/t gold). Mobilisation has been set to occur in under a fortnight, with the RAB programme due to commence around the 10th of December.
Global Nickel's flagship Jutson Rocks project covers the full extension of the Jutson Rocks Greenstone Belt ("JRGB") located 125km northeast of Laverton, Western Australia. Jutson Rocks includes three project areas (Jutson Rocks, Mt Venn and Mt Cornell) that are majority held by Global Nickel as well as six additional 100% held license applications. Together these cover 60 contiguous strike kilometres of the NNW striking JRGB.
Additional BLEG and infill sampling to commence
In conjunction with the 2,000m RAB programme, follow-up BLEG geochemistry over an extended domain and further infill auger drilling will also be taking place. This will provide extended mapping of the structural corridor that is associated with the anomalous gold, platinum and palladium results returned to date. This work is to commence within two weeks, starting on the 7th of December and is to be completed prior to Christmas. Results from this program will be released to the market in mid to late January.
This fast-tracked exploration programme demonstrates the Company's shifting focus towards gold as the JRGB provides increasingly encouraging gold assays and drilling results.
Change of name and board changes
The Board of Global Nickel is pleased to announce that Mr Carl Swensson has now become Chairman of the Company, replacing Ms Lia Darby who has now taken on the role of Managing Director. Mr Andrew Mortimer, Director of Operations, intends to scale back his executive involvement in the Company, needing to focus on his role at Proto Resources & Investments Ltd. Mr Mortimer will continue as a non-executive director. Further details will be announced once the Company holds its next remuneration committee meeting however it is not envisaged that these changes will lead to any additional ongoing cost.
Per resolution of the Company's AGM on Wednesday 23 November, the name of the Company will also be changing to Global Metals Exploration NL, better reflecting the current direction of the Company and its shift into precious as well as base metals.
Ms Darby said today, "I am very pleased to be taking on this role at a time when the Company team is starting to reap the reward of many years hard work, with the delineation of our exciting gold and platinum anomalies. I look forward to the base metal assays from the auger drilling as we are set to mobilise our RAB drilling team."
About Zinc of Ireland NL
Zinc of Ireland NL (ASX:ZMI), formerly Global Metals Exploration NL, is a mineral exploration company. The Company's principal activities include mineral exploration and project evaluation. The Company's projects include Kildare Project, which is located in County Kildare, approximately 40 kilometers south-west of Dublin; Ballinasloe Project, which is located in County Galway, over 50 kilometers east of Galway/Carnmore on the Glentaun-Cloonark Regional Structure; Navan Project, which is located approximately 15 kilometers south-east of the Navan Tara mine; Sligo Project, which is located over four kilometers north of Sligo in the western province of Connacht; Monaghan Project, which is located approximately 20 kilometers south-east of Monaghan in the eastern portion of the Longford-Down Inlier; Cork Project, which is located over 15 kilometers south-west of Cork, and Galway Project, which is located approximately 25 kilometers north-west of Galway in the Neoproterozoic Dalradian Supergroup.
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