Australian-listed diversified explorer South Boulder Mines (ASX: STB) has announced that additional 1m re-sampling results by JV partner Independence Group demonstrated that +2% nickel with associated Cu-PGE sulphides was intercepted over ~350m strike length at the Rosie Prospect within the Duketon Project in Western Australia.
HOLE TBRC069 consisted of 2m @ 1.65% Ni, 0.26%Cu, 0.08g/t Pt+Pd from 192m including 1m @ 2.85% Ni, 0.36% Cu, 0.12g/t Pt+Pd from 193m.
The previously released intercepts for TBDD070 and TBDD080 are 20m @ 1.32 % Ni, 0.23% Cu, 1.54g/t Pt+Pd from 184m including 7m @ 2.61% Ni, 0.42% Cu, 3.75g/t Pt+Pd from 190m and HOLE TBDD080 3.59m @ 2.27% Ni, 0.24% Cu, 3.10g/t Pt+Pd from 205m including 0.76m @ 4.98% Ni, 0.25%Cu, 6.98g/t Pt+Pd from 207.84m.
Also previously released TBRC073 which was drilled ~200m east and along strike from TBRC070 and TBDD080 and ~350m east and along strike from
At the Rosie Prospect, one metre assay results for TBRC069 have returned 2m @ 1.65% Ni, 0.26%Cu, 0.08g/t Pt+Pd from 192m including; 1m @ 2.85% Ni, 0.36% Cu, 0.12g/t Pt+Pd from 193m.
The holes tested ~350m of strike on 100m spaced sections. The drilling programme was a success, with strong nickel, copper and PGE mineralisation intersected on all four sections.
TBRC080 intersected massive sulphides which included including a maximum grade of 4.98% Ni, 6.93 g/t Pt+Pd, 0.25% Cu, 0.21 g/t Au and 1250ppm Co over 0.76m from 207.84m. This hole intersected the nickel mineralisation 25m ‘down contact’ from TBRC070, which intersected a best interval of 20m @ 1.32 % Ni, 0.23% Cu, 1.54g/t Pt+Pd, 365ppm Co and 0.14 g/t Au from 184m.
Independence has advised they will be expediting a follow-up 15-20 hole combination RC and diamond drilling program in late January with results available for release as they come to hand.
In addition to the results at Rosie, drilling has also been completed at the C2 prospect. Four holes were completed on section 6945300N which included three RC/DD combination holes and one failed RC precollar.
There was no obvious mineralisation within the Central zone of the ultramafic. Minor occurrences of disseminated and foliation parallel sulphides stringers were observed toward the western contact zone. These intervals were 4-6m wide up to 0.5% Ni, generally off contact approximately 20m, from the western sediment contact.
In early 2004, South Boulder entered a farm-out Joint Venture (JV) Agreement with Independence, whereby Independence can earn a 70% interest in the nickel rights on tenements held by South Boulder in the Duketon Project, by the completion of a Bankable Feasibility Study within 5 years of the grant of the relevant tenement.
Disclosure: The author holds no positions in the company