THE BOURSE WHISPERER: Fraser Range ‘neighbour of the year’ Sirius Resources has concluded a detailed electromagnetic (EM) surveying at its Nova nickel discovery, which the company said has confirmed and extended the main EM conductor (conductor 1) and also identified an entirely new EM conductor to the southwest of previous drilling.
The new conductor, known as conductor 4 or Nova West, is located beyond the western limit of the original EM survey.
According to Sirius the survey has confirmed and defined the main Nova conductor (conductor 1) in greater detail over a distance of 1,200 metres down plunge to a vertical depth of 650 metres.
Plan projection of EM conductor 1 (Nova) and conductor 4 (Nova West)
showing location of holes drilled to date. Source: Company announcement
As the conductor plunges beyond the depth range of the EM survey, Sirius is now planning a more powerful deep penetrating survey in order to determine how much further this conductor may continue down plunge.
The new EM conductor (conductor 4, or Nova West) is located beyond the limits of the original EM survey.
Sirius has modelled its strike length to 200m and a down plunge extent of 500m.
The Nova West conductor dips beneath the mineralisation Sirius has intersected in drilling to date on the main Nova conductor.
The company considers this could represent an entirely new mineralised zone.
The detailed EM survey comprises a combination of fixed loop EM (FLEM) and down hole EM (DHEM) which has enabled higher resolution definition of the conductive zones. The discovery of an additional EM conductor beyond the limit of the original survey also attests to the potential of the area beyond that explored to date.
“The board and management of Sirius are encouraged by the findings from this more detailed EM survey,” Sirius Resources managing director Mark Bennett said in the company’s announcement to the Australian Securities Exchange.
“Using FLEM and DHEM we now have a far better understanding of the Nova EM conductor which is critical in guiding the future diamond drilling program.
“The identification of an entirely new conductor is an added bonus that provides great encouragement for the regional potential of Sirius’ land holding”.
Sirius is continuing to push ahead with the accelerated exploration program at Nova.
The first diamond drill hole into the upper end of Nova is underway, which the company said will be followed by systematic drilling down dip and down plunge.
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