South Boulder Mines' (ASX: STB) joint venture partner Independence Group (ASX: IGO) has completed an initial JORC Resource of 1.7 million tonnes at 1.7% nickel, 0.4% copper and 1.9 grams per tonne (g/t) platinum and palladium for the Rosie deposit within the Duketon Joint Venture.
The Duketon Joint Venture is centred 120 kilometres north of Laverton in Western Australia.
The potential to grow the Resource at Rosie is increased by the fact that the initial Resource does not include the C2 mineralised zones located about 1.7 kilometres to the northwest.
The Resource occurs over a vertical depth of about 600 metres and a strike length of 1100 metres.
Mineralisation remains open along strike and at depth.
The Rosie mineralisation is of medium tenor (8-10% nickel), has a nickel/copper ratio of about 10:1 and has significant platinum and palladium credits.
The platinum tenor averages about 3g/t and is moderately variable, typically in the range of 2-6g/t. The palladium tenor averages about 3-4g/t and is more variable, typically in the range of 1-10g/t.
Analysis of platinum group elements indicates that the mineralisation may also have significant ruthenium and rhodium concentrations.
The mineralogy of the system appears to be similar to typical Kambalda-style magmatic nickel systems, with pyrrhotite, pentlandite and chalcopyrite as the dominant sulphides in the primary portion of the mineralised zone.
Three mineralised domains were modelled - a higher grade Contact domain with lower grade Footwall and Hanging Wall domains. Only the Contact domain is included in the maiden Resource.
A further phase of exploration at Duketon is scheduled to begin in February testing a number of targets.
Exploration will test the strike and depth extensions of the Rosie deposit targeting thicker, higher grade zones in the Contact mineralised domain, possible repeats of Rosie-style mineralisation between Rosie and the C2 disseminated nickel sulphide discovery 1.7 kilometres to the northwest and higher grade zones within C2.
Under the Duketon joint venture with South Boulder, Independence Group can earn a 70% interest in the nickel rights by completing a Bankable Feasibility Study within five years of the grant of the relevant tenement.