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Independence Group NL has reported wide,
high-grade nickel intercepts from its McLeay prospect, located 3km east of Kambalda, Western
Australia.
Significant assay results from visual estimates announced in
the September 2005 quarterly report include 17m at 10.7% nickel (13m true width), (including
8.5m at 16.1% nickel), which represents thickening of the massive sulphides on the eastern
edge of the channel. The visual estimate was previously reported as 17m at 9%.
Mineralisation remains open to the north, south and east, and infill and extension
drilling programs are continuing.
“The initial McLeay resource estimate of
13,000 tonnes of nickel (at a grade of 6.7%) is expected to increase substantially,"
Managing Director, Chris Bonwick, said.
In September, Independence announced that
the Long Mine Complex nickel ore reserves had increased to 49,370 contained nickel tonnes
(Ni t). The recently discovered McLeay nickel deposit contributed 8,110 Ni t to the ore
reserves and 13,000 Ni t to resources as calculated in September 2005.
Independence’s September 2005 quarterly report included visual estimates of results
from drilling completed since the resource calculation for McLeay was announced, for which
assays have now been received.
Drilling completed since the release of the
quarterly report, has returned further high-grade nickel intercepts and is expected to
significantly increase the size of the resource.
“The McLeay results are
significant as this deposit is substantially adding to mine life," Mr Bonwick said.
Independence is currently awaiting assay results due in the next 10-14 days from
drilling on its recently discovered gold find near Dalwallinu, a wheat and sheep farming
district, 180km north east of Perth in Western Australia. |
