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EAGLE NICKEL LIMITED

ASX: ENL

The data on Australian Shares.com is intended as a guide only and is compiled from information in the public domain. Data on this website should not be used to make an investment or trading decision.

Description

Eagle Nickel Limited is an exploration company with significant nickel and other projects. Eagle Nickel is managed by a highly experienced team to maximise the project potentials. Whilst Eagle Nickel is focused on early progress of its nickel projects, it also has lead, zinc, lithium, phosphate and guano prospects. Due to the positive results of company sampling, both the Hooley Well and Northampton projects are prospective for the occurrence of high grade mineralisation. More significantly, perhaps there is good potential for a world class deposit.

HOOLEY WELL - E09/1272 (NICKEL)

The Hooley Well Project consists of a single granted exploration licence covering 43km2 approximately 200km northwest of Meekatharra, Western Australia which is currently subject to a joint venture with Red River Resources Limited (ASX: RVR, “Red River”). Under the terms of the JV, Red River is the manager of the project while it earns up to 50% equity by spending $500,000 on exploration over 4 years.

During the previous quarter, a Heritage Survey was completed on Innuendy Station in the Murchison district with the Wadjarri traditional owners and subsequently received. The Heritage Survey findings clear the way for Red River to proceed with proposed drilling. Planning and logistics for an initial single deep RC hole to test the Hooley Well anomaly was initiated with drilling expected to take place in the December 2010 quarter.

NORTHAMPTON – E66/57, E66/77-78, E70/3267 & ELA70/3905

The Northampton project group of tenements is comprised of 4 granted exploration licences covering 409km2 and 1 exploration licence application covering 310km2 in the mid west region of Western Australia. The region is a recognised lead producer with the former Northampton State Lead Battery (1954 – 1983) established to promote lead mining in the Northampton Mineral Field.

MT MADELINE (ELA09/1645, ELA09/1804-6)

The Mt Madeline Project is a green field lithium and base metals prospect comprised of a four exploration licence applications covering in excess of 1300km2 located approximately 230km east-southeast of Carnarvon, Western Australia. The area is considered prospective for lithium following anomalous sampling results achieved by the Geological Survey of Western Australia (GSWA) in the past. The target area is situated on the Byro Plains and is unusual in that it is within Permian sediments not known for the occurrence of lithium. The target area is mainly a large sheet wash area and results should be treated with some caution.

Following a reconnaissance field trip to E09/1645 during the September 2010 quarter, the potential for the area to host nickel and base metal mineralisation was confirmed and as a result, applications were made for an additional 3 exploration licences adjacent to E09/1645.

PHOSPHATE (ELA04/2022, ELA08/2120, ELA09/1756 & ELA70/3847)

On 27 May 2010, Eagle Nickel entered into a Heads of Agreement with Golden Century Mining Ltd whereby Eagle Nickel can acquire 4 exploration tenements regarded as prospective for phosphate subject to and conditional upon the approval of Eagle Nickel shareholders. The consideration to be provided by Eagle Nickel is 10 million shares in Eagle Nickel and 10 million options exercisable at 20 cents on or before 1 May 2015.

The Phosphate Project group of tenements covering a total of approximately 1,188km2 is comprised of 4 exploration licence applications; Wandagee (E09/1756) & Winning (E08/2120) approximately 150km and 200km northeast of Carnarvon respectively, Langley Crossing (E04/2022) approximately 40km south of Derby and Pillawarra Hill (E70/3847) approximately 20km north of Kalbarri.

GUANO (ELA04/2007 & ELA04/2008)

On 27 May 2010, Eagle Nickel entered into a Heads of Agreement with Golden Century Mining Ltd whereby Eagle Nickel can acquire 2 offshore exploration tenements regarded as being prospective for accumulations of highly prized organic fertilizer subject to and conditional upon the approval of Eagle Nickel shareholders. The consideration to be provided by Eagle Nickel is 10 million shares in Eagle Nickel and 10 million options exercisable at 20 cents on or before 1 May 2015.

The Guano Project group of tenements is comprised of application E04/2007 (White Island) approximately 3km2 in size and covering a single unnamed island and application E04/2008 (Brunswick Bay) approximately 50km2 in size and covering 100% of West Montalivet, East Montalivet, Don & Patricia Islands and approximately 50% of Walker Island. The potential of both tenements continues to be assessed ahead of evaluating appropriate exploration methods and scheduling accessible times to visit, identify and quantify the presence of guano on the islands in question once the tenements have been granted.

Mine For

nickel, lead, zinc, lithium, phosphate

Location of operation(s)

Western Australia

Address

Level 7, 231 Adelaide Terrace
PERTH, WA, AUSTRALIA

Phone

08 9225 6475

Email

Website


Last Updated

11/04/2011

 

The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.

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