Flinders identifies new nickel-copper zones at Canegrass
THE DRILL SERGEANT: Flinders Mines (ASX: FMS) has claimed the discovery of nickel and copper sulphide mineralisation from a maiden drilling program targeting those metals at the company’s wholly-owned Canegrass project, located 60 kilometres southeast of Mount Magnet, in Western Australia’s Mid-West region.
The program consisted of 7 RC drill holes at two discrete targets, CG02 and CG39.
Flinders said all holes intersected sulphides.
The company commenced the drill program targeting copper and nickel mineralisation on the basis of geophysical data analysis it had carried out earlier in the year that showed the potential for the existence of sulphide mineralisation in the Canegrass area.
The company pointed out the new base metals mineralisation is in areas separate to its Canegrass’ magnetite iron and vanadium resources, which it considers adds substantially to the mineral potential of the Canegrass holding.
Assays have been received for only the first two of the seven drill holes, including:
– 13 metres at 0.91 per cent nickel, 0.58 per cent copper, 0.08 per cent cobalt between 104 to 117 metres, including 4 metres at 1.23 per cent nickel, 0.69 per cent copper, 0.10 per cent cobalt between 112 to 116 metres.
Total Magnetic Intensity image displaying anomalous areas
targeted (CG02 & CG39), with additional anomalous zones yet to be
investigated. Source: Company announcement
“All drill holes intersected distinctive ultramafic (pyroxenite) units, which are host to sulphide mineralisation of varying intensity and composition within a zone of disseminated to massive sulphides,” Flinders Resources said in its ASX announcement.
“The similarity of geophysical responses, observed geology and sulphide mineralisation at CG02 and CG39 suggests that these targets may be part of a wider mineralised intrusive system.
“Total Magnetic Intensity, highlights several other associated anomalies. These anomalies will be further investigated during upcoming field activities.”