Sheffield Resources completes first diamond drilling at Red Bull

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THE DRILL SERGEANT: Sheffield Resources (ASX: SFX) has completed a round of diamond drilling at the company’s Red Bull nickel-copper project.

The Red Bull project is situated within 20 kilometres of Sirius Resources’ (ASX: SIR) Nova/Bollinger nickel-copper deposit, in the Fraser Range nickel province in Western Australia.

This was the first diamond drilling program to be carried out at Red Bull and was designed to test the source of three high-order bedrock conductors RB VA1 to VA3, which Sheffield identified from Fixed Loop EM surveys conducted earlier this year.

Three holes were completed, one at each conductor, with a total of 1,062 metres drilled.

At RB VA1, drilling intersected a 104.5m thick interval of moderately graphitic metasediment from 31.3m depth, containing four 0.8m to 4.7m thick zones of intense graphite mineralisation. This mineralisation will be further evaluated as a potential graphite deposit.

At RB VA2, drilling intersected 1m to 17m thick bands of weakly graphitic and sulphidic metasediment from 237.5m to 383.6m.

At RB VA3, drilling intersected a 3.8m thick zone of semi-massive and massive sulphide (pyrrhotite dominant) from 298.1m to 301.9m, followed by a 4.3m thick zone of disseminated sulphide and graphite in narrow bands from 301.9m to 306.2m.

The company said that although the diamond drilling results are not indicative of nickel sulphide mineralisation, further work will be undertaken to properly evaluate their significance.

“These are the first targets in our Fraser Range package that we have tested with diamond drilling,” Sheffield Resources managing director Bruce McQuitty said in the company’s announcement to the Australian Securities Exchange.

“With any large prospective land package in the Fraser Range, continuing systematic exploration is important for success.

“Two of the three diamond drill holes intersected anomalous mineralisation; one hit a wide zone of graphite, and the other massive and semi-massive sulphide.

“In addition to undertaking down-hole EM surveys, we will process and analyse the drill core for elements of economic significance.

“As part of our systematic exploration approach we are currently undertaking a regional aircore drilling program, which aims to generate new targets for subsequent RC/diamond drilling.

“This drilling is presently focusing on our Northern Drill Targets where nickel-copper prospective rock types have been intersected, consistent with a layered mafic-ultramafic intrusive complex, in an area where previous explorers report nickel-copper geochemical anomalism.

“Importantly, we remain well funded to continue our Fraser Range exploration program.”