CASSINI: OUTSTANDING NEW THICK HIGH-GRADE NICKEL INTERCEPT PAVES WAY FOR IMMINENT RESOURCE UPGRADE
Latest diamond hole intersects 12.3m @ 5.1% Ni including a high-grade core of 9.7m @ 6.0% Ni
• New high-grade sulphide intercept of 12.3m @ 5.1% Ni in MDD334 within the CS5 channel
• Thick true width of 9.6m meaning this ranks one of the higher value intersections at Cassini to date
• High-grade sulphide core of 9.7m @ 6.0% Ni with a true width of 7.6m
• Intersection is 70m down-plunge of MDD323w2 (15.4m @ 4.7% Ni) announced on 25 September 2019
• Up-wedge to be drilled targeting the 70m space between MDD334 and MDD323w2
• Cassini Mineral Resource to be updated by early November
Mincor Resources NL (ASX: MCR, “Mincor” or the “Company”) is pleased to advise that it is on track to update the
Mineral Resource for the Cassini nickel sulphide deposit by early next month after ongoing diamond drilling
returned another exceptional high-grade, high-value nickel intercept of 12.3m at 5.1% Ni including a massive and
matrix sulphide high-grade core of 9.7m @ 6.0% Ni (see Figure 1).
The intersection is part of the previously announced drilling program being completed over a six-week period
before moving to the CS1 channel and the untested magnetic anomaly (see Figure 2). The parent hole, MDD334,
was originally designed as a platform for a down-hole electromagnetic (DHEM) survey to be undertaken to evaluate
the potential for down-plunge extensions of the Cassini deposit. However, given the high-grade nature of the new
intercept, a DHEM survey is no longer required given the remarkable level of continuity being experienced.
Mincor’s Managing Director, David Southam, said the Cassini deposit is shaping up to be a very material discovery
on a newly defined belt, with the latest intersection demonstrating outstanding continuity down-plunge and the
mineralisation also appearing to be stronger and thicker at depth.
“The intersection announced today complements our previous highest value nickel intercept, announced on 25
September,” he said. “Importantly, today’s result is 70 metres down-plunge from that standout intercept of 15.4m
at 4.7% Ni and demonstrates that the CS5 channel is remaining its thickness and significantly higher grade at depth
– which bodes extremely well for its longer term growth potential.
“Our immediate focus now turns to drilling an up-wedge hole into the 70-metre space between MDD334 and
MDD323w2. Following this up-wedge, we will update the Cassini Mineral Resource with these latest intersections,
with that new Mineral Resource being used for the Cassini component of our nickel restart Definitive Feasibility
MDD334 is located on the boundary within the current Inferred Mineral Resource envelope in the recently
delineated CS5 channel, which has become significantly stronger as it is tested down-plunge. This new intersection
is higher grade and thicker than currently estimated in the Resource block model.
courtesy of Bell Direct
( DYOR )
i hold MCR
is still coming out of mothballs
i would have been happier to see some cobalt and copper mixed in with these results