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  • Stratum Metals Pinpoints Nickel Prospects Over 10km At East Menzies  0 comments
    Feb 5, 2013 12:40 AM

    Stratum Metals (ASX: SXT) has identified nickel prospects that extend over a 10 kilometre zone through a review and compilation of past work carried out on the recently acquired East Menzies Goldfield tenements.

    A 2011 soil program at the Merrey Well Prospect plus 2004-2005 drilling at the Cepline Prospect significantly extends the nickel potential of Stratum's consolidated tenement holding.

    Martin Holland, managing director, commented: "The consolidation of this historic portfolio was based on the opportunity to combine the significant amount of work completed by many past tenement holders; work with promising results was often limited by extent of tenure.

    "The project has a large number of past gold workings and it is now clearly prospective for massive sulphide ores in an area extending over 10 kilometres.

    "Our experienced team can move forward with the confidence our tenement holding provides a scale that will not limit the benefits of successful exploration."

    Anomalous nickel soil geochemical results from Merrey Well indicate up to 2,511 parts per million nickel along with elevated silver, arsenic, copper, lead and zinc.

    Meanwhile, historic reverse circulation drilling at Cepline intercepted significant near surface nickel, with nickel-cobalt sulphide minerals recovered.

    Drilling showed intercept lengths between 4 and 12 metres grading between 0.9% and 1.72% nickel.

    Mineralogical work shows most of these intercepts to be lateritic, however, and significantly, nickel sulphide minerals in the form of nickel-cobalt bearing Siegenite/Vaesite were noted from 37 metres depth in one hole.

    The Merrey Well soil samples extend west of an area of gossans mapped and sampled in the late 1960s.

    Stratum recently located and sampled one of these gossans and submitted four samples to SGS Laboratory for analysis.

    Results returned grades of 1.47% nickel and 0.12% cobalt.

    The geochemistry from both soils and recent gossan sampling along with the MLTEM conductors provide support for developing massive sulphide drilling targets across the project.

    Stratum is now planning to undertake further soil sampling and electromagnetic surveys over the project area.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

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