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  • Stratum Metals Receives Nod For High Priority Nickel And Gold Drilling, East Menzies  0 comments
    Oct 25, 2013 2:25 AM

    Stratum Metals (ASX: SXT) will soon start its much awaited nickel and gold drilling campaign at its East Menzies project in Western Australia after receiving approval from the Department of Mines and Petroleum.

    The nickel sulphide targets at the Emu Prospect are located within a larger 10 kilometre nickel prospect trending zone while the gold targets follow up on bonanza drill intercepts of up to 9 metres at 16.63 grams per tonne gold.

    The company will now move to appoint a drilling contractor and test the targets.

    Nickel

    Gossans near conductors identified by the company's recent airborne electromagnetic survey sampled over a 410 metre strike length assayed rock chips up to 1.47% nickel.

    Historic drilling by CRA also provides significant promise, with intercepts of 3 metres at 1.5% nickel from 17 metres and 4.5 metres at 0.77% nickel from 52 metres.

    This is especially noteworthy given the current interpretation that this drilling had intersected remobilised disseminated nickel with newly identified primary nickel sulphide target being much steeper and untested.

    The company plans to initially drill three holes totalling 480 metres with provision to follow up on positive results.

    Gold

    Two drill ready drill targets have been identified at the Four O'Clock Prospect and the Goodenough area.

    Drilling at the Goodenough Tribute Shoot Target will test a high grade ore shoot extension 50 metres south of the Tribute Mine area, west of the Goodenough mine area that is supported by the bonanza intercept.

    The Four O'Clock Gold Target is located about 400 metres south west of the Goodenough Mine Headframe, and characterised by a 160 metre strike line of historic underground mine workings.

    If successful this initial drilling will support a target of at least 160 metres in strike length at Four O'Clock and provide a model to delineate addition ore shoots associated with the 750 metre by 370 metre electromagnetic conductor that underlies the 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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