Cannon Resources Intersects Nickel Mineralisation Down Plunge at Sabre

THE DRILL SERGEANT: Cannon Resources (ASX: CNR) will be well warmed up for The Resources Roadhouse Steak Sandwich Showdown at Diggers & Dealers next week after a recently completed deep diamond hole has more than doubled the vertical extent of nickel mineralisation at the Sabre prospect within the company’s Fisher East nickel project in Western Australia.

Cannon Resources reported that hole MFED122 intersected nickel sulphide mineralisation at 650 metres vertical depth from surface and beneath and down-plunge of the Sabre resource.

Results for MFED122 returned an intersection of:

6.4 metres at 1.3 per cent nickel and 0.43 grams per tonne palladium+platinum, including 5.1m at 1.5 per cent nickel.

A further zone of massive nickel sulphide was encountered of 0.5m at 5.3 per cent nickel.

“Hole MFED122 was drilled 520 metres down plunge and 350 metres vertically below the existing drilling at Sabre,” Cannon Resources CEO Steve Lynn said in the company’s ASX announcement.

“With such an aggressive step-out, we sited the hole towards the centre of the channel, to maximise our chances of success.

“To intersect the mineralisation as targeted is an exciting outcome that confirms the Sabre channel is mineralised to at least these depths.

“The grade is similar to the existing resource average, however a further interval of about 0.5 metres adjacent to the main zone, consists of massive nickel sulphide at 5.3 per cent nickel.

“This is interpreted to be remobilised and likely structurally emplaced into komatiite above the basal mineralised sequence.

“The search space remains open for further and thicker mineralised zones, and we are keen to test this area with DHEM at the earliest opportunity.”