Sirius sets market alight with drill results

THE DRILL SERGEANT: The best thing about being Sirius Resources (ASX: SIR) is that there is no need to release announcements saying you are Xkm away from the Nova discovery.

Sirius’ share price went bonkers after the company announced resumption of its exploration programs had discovered massive nickel sulphide mineralisation in the first reconnaissance hole drilled to test the greenfields Taipan prospect at its 100 per cent-owned Polar Bear project.

On the company’s now 100 per cent-owned Nova lease, the first results from the Samson deep-penetration electromagnetic (DPEM) survey have identified an EM conductor located to the northwest of and below Nova.

Still on the Fraser Range, results received from first pass reconnaissance drilling of the 70 per cent-owned Crux nickel target have replicated the same levels of nickel-copper-cobalt enrichment as seen at Centauri and in original reconnaissance drilling above Nova.

But, let’s head back to the nickel sulphide discovery at the Taipan prospect.

 

Location plan showing Taipan nickel prospect, key intercepts in previous
drilling at Halls Knoll, the location of the current reconnaissance
drillhole and the ‘live’ contact and location within the Polar Bear
tenements. Source: Company announcement

 

The first hole Sirius drilled to test the Taipan nickel prospect at the Polar Bear project, SPBD0046, has reportedly intersected a zone of high grade nickel-copper-cobalt-platinum-palladium mineralisation, including:

4.1 metres at 3.8 per cent nickel, 2.45 per cent copper, 0.08 per cent cobalt, 0.9 grams per tonne platinum and 1.6g/t palladium from 104.4m.

This intersection included:

2.15m at 5.84 per cent nickel, 3.73 per cent copper, 0.12 per cent cobalt, 1.1g/t platinum and 1.65g/t palladium from 106m.

“This is an outstanding result given it is the first test of an otherwise unexplored contact of stratigraphy known to host nickel sulphide deposits such as Miitel, Mariners and Redross elsewhere in the region,” irius Resources said in its ASX announcement.

“An EM program will commence as soon as possible to focus a substantial follow up drilling campaign.”

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Website: www.siriusresources.com.au