THE BOURSE WHISPERER: White Cliff Minerals has identified a number of new Maggie Hays style nickel sulphide targets at the company’s 100 per cent-owned Lake Johnston project in Western Australia.
The targets were identified by a geophysical survey White Cliff recently conducted at the Mount Gordon prospect, located 20 kilometres south of Norilsk’s operating nickel mines Maggie Hays and Emily Anne.
Regional geology map showing tenement holdings, mine locations and
the location of the company’s Mt Gordon and Lake Percy prospects.
Source: Company announcement
“The additional nickel sulphide targets generated by the recent survey are outstanding exploration targets,” White Cliff Minerals managing director Todd Hibberd said in the company’s announcement to the Australian Securities Exchange.
“The local geology for the Maggie Hays nickel sulphide style targets at Mt Gordon and Lake Percy is strikingly similar to the volcanic sequence that hosts the Maggie Hays and Emily Anne Nickel deposits.
“The Lake Johnston lease package contains extensive mafic to felsic volcanic sequences and ultramafic units that have the potential to host a major new nickel sulphide discovery.”
The company said the newly-identified nickel sulphide targets occur within ultramafic sequences on or near the basal (lower) contacts with sedimentary units at depths between 80 and 350 metres.
The basal contact is the most common position for nickel sulphides to accumulate.
None of the nickel targets have undergone any previous drill testing.
White Cliff said the new nickel targets are additional to other targets it recently announced that were identified at the Lake Percy prospect north of the Maggie Hays nickel mine.
The company now has ten drill ready nickel sulphide targets scheduled for testing in a major diamond drilling program commencing in June 2012.
It has also flagged further geophysical surveys and soil geochemistry will be carried out on the rest of the project to identify additional targets.