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NICKELORE LIMITED - ASX: NIO
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Description
Nickelore Limited is a public company listed on the Australian Stock Exchange (Code: NIO). The Company business activities have involved gold, nickel sulphide and copper exploration. The Company's current focus is the Canegrass Nickel Cobalt Project based 70 km north-north west of Kalgoorlie, Western Australia.
Lake Marmion Project
The Lake Marmion Project is located ~130kms north of Kalgoorlie in Western Australia. The project consists of 7 applications for exploration licenses (ELA29/634 & 637, EL31/751 & 752 and PL31/1769 to 771) an area of 343 km2 covering the Lake Marmion Tertiary drainage channel. The tenure contains drillholes from the 1980s with heavy mineral concentrates assaying up to 4,856ppm U3O8 within Tertiary channel material. The tenure is also adjacent to trench samples of the lake sediments taken in the 1970s which assayed up to 5,430ppm U3O8 and supported by auger drill results of up to 800ppm U3O8. The project area is highly prospective for both uranium in surficial (near surface) deposits such as lake sediments and for the deeper palaeochannel/sedimentary type uranium mineralisation.
The tenure of the project is highly prospective for palaeochannel/sedimentary type uranium deposits (eg, Mulga Rocks -10.8 Million Tonnes @1,400ppm U3O8) and uranium in surficial (near surface) deposits hosted in calcrete (eg Yeelirrie deposit -35 Million tones @1,500ppm U3O8) and/or lake sediments.
Goongarrie Project
The Company acquired 100% of 318 km2 of the tenements (all of which have been granted) from Monarch Gold Mining Company Ltd in August 2007.
The tenement package at Goongarrie East Project covers the following tenement holdings - E24/140,E29/524, E29/543, E29/572 and E29/573.
The southern half of the Goongarrie East Project contains the interpreted northern extension of the same ultramafic belt that hosts the Black Swan and Silver Swan nickel sulphide deposits.
The tenements are only 40kms northwest and along strike from Black Swan and Silver Swan and only 11kms along strike from the Scotia East nickel sulphide deposit.
Drilling commenced in early May 2008 on the site to follow up the ground magnetic survey over airborne magnetic anomalies, completed in the March quarter. A thirty-five line kilometre survey was conducted over ten sites in four of the five Goongarrie East tenements. The survey identified wholly concealed ultramafic rocks, potential hosts for nickel sulphide bodies similar to those nearby at Ringlock Dam.
Mine For
uranium, copper, gold, nickel
Location of operation(s)
Western Australia
Address
Suite 4 62 Ord St
WEST PERTH, WA, AUSTRALIA
Phone
(08) 9481 2433
Website
Last Updated
13/07/2011
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.
