Sampling confirms Pt-Pd-Ni-Cu mineralization at South Boulder’s Rosie nickel sulphide prospect
by Sergei Balashov
proactiveinvestors.com.au
Gold, nickel, potash and prosphate focused explorer South Boulder Mines (ASX: STB) announced the results from one metre re-sampling at the newly discovered Rosie nickel-copper-platinum-palladium Prospect at the Duketon Nickel Suplhide JV (joint venture), including intersections of 10m (metres) at 2.25 g/t (grammes per tonne) Platinum and Palladium (Pt+Pd) (0.40% Ni (nickel) and 0.31% Cu (copper)) and 3 metres at 4.24 g/t Pt+Pd (0.73% Ni and 0.54% Cu) and 4.00 g/t Pt+Pd (0.56% Ni and 0.88% Cu).
Other highlights included 20m at 0.99 g/t Pt+Pd (0.61% Ni and 0.31% Cu), 10m at 2.25 g/t Pt+Pd (0.40% Ni and 0.49% Cu), 35m at 1.59 g/t Pt+Pd (0.40% Ni and 0.27% Cu) and 1m at 8.23 g/t Pt+Pd (1.09% Ni and 0.81% Cu).
The one-metre sampling programme was a follow up to the recent 4 metre composite samples at Rosie, which also was conducted by South Boulder’s JV partner Independence Group (ASX: IGO). The company said the re-sampling highlighted an “excellent” first pass Pt/Pd/Ni/Cu/Au (gold) signature over a 350m strike length largely within the oxide zone.
Maximum metal results intersected to date 1.40%Ni, 0.99%Cu, 3.09 g/t Pt and 5.14 g/t Pd. The Rosie prospect also included a definite gold association with a best intercept of 2m at 2.35 g/t in the TBAC124 hole. The presence of a strong nearby continuous conductor has also been indicated with the interpretation of the results of geophysical testing are currently pending.
South Boulder said the Bulge area was clearly shaping up as one of “the most exciting new nickel-copper-PGE (platinum group of minerals) areas in Australia with the Rosie discovery and the initial discovery of ‘The Bulge C2’ Nickel prospect, which previously intersected intervals of 50m at 0.92% Ni, 20m at 1.00% Ni and 4.5m at 2.04% Ni.
“The PGE values at Rosie in particular highlight the outstanding success of exploration efforts to date. We look forward to further result as Independence accelerates exploration in an effort to unveil the commercial potential of the Duketon Belt as a new nickel district,” said Managing Director of South Boulder Lorry Hughes.
South Boulder entered a farm-out JV agreement for the Duketon project with Independence in 2004, which could earn a 70% interest in the nickel rights by completing a bankable feasibility study within five years. |
