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RESOURCE AND INVESTMENT NL - ASX: RNI
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Description
Resource & Investment NL (ASX Code: RNI) is a West Australian mineral exploration company with a primary focus on the Doolgunna region, Australia’s most exciting new mineral province.
RNI’s highly-prospective Doolgunna property is located just 3000 metres from the world-class DeGrussa copper-gold deposit discovered by Sandfire Resources NL. RNI is undertaking a systematic exploration program, under the management of key former Sandfire directors and geological staff, which the company is confident will unearth more VMS (Volcanogenic Massive Sulphide) discoveries, which occur globally in clusters. RNI’s other West Australian exploration projects include Three Rivers and Yule River.
The Doolgunna Project
RNI has the rights to acquire 100% of E52/2438 (The Doolgunna Project), a 21sqkm Exploration Licence located just 3000 metres south-east of Sandfire Resources’ DeGrussa copper-gold discovery. The discovery by Sandfire of a resource containing 600,000 tonnes of copper, 660,000 ounces of gold and 5.1 million ounces of silver has made the Doolgunna region, about 900km north-east of Perth, Australia’s most exciting new mineral province. RNI has committed to a systematic exploration program at its Doolgunna property which encompasses detailed geological mapping, airborne geophysics, closely-spaced soil sampling and ground electromagnetics to determine priority drilling targets. The exploration program is targeting high-grade VMS (Volcanogenic Massive Sulphide) style copper-gold mineralisation, similar to DeGrussa, located within the basaltic and sedimentary rocks of the Proterozoic-aged Bryah Basin. RNI’s Doolgunna Project covers similar lithologies to those recorded in the DeGrussa area and the company believes its Doolgunna Project has the potential to host fresh high-grade copper-gold discoveries. The Doolgunna Project also hosts significant shear and vein-related gold deposits, with previous drilling at the Salmon Prospect returning intersections of up to 8.2gpt.
Three Rivers Project
RNI has the rights to acquire 100% of Exploration Licences 53/2124 and 52/2562, covering a combined 170sqkm, located 35km north of the DeGrussa copper-gold discovery and 15km north-west of the Plutonic gold mine in the Meekatharra region of Western Australia. The Three Rivers Project contains a broad zone, some 15km long and 5km wide, where soil sampling geochemical processing has shown the area to be substantially anomalous in copper, zinc, arsenic, uranium and palladium. RNI believes the broad multi-element anomalism may be related to a major hydrothermal system and could indicate the presence of a significant base and precious metals deposit. RNI is planning a detailed exploration program for the Three Rivers Project comprising aeromagnetics, geological mapping and soil sampling.
Yule River Project
Under a joint venture with Brumby Resources NL, RNI holds the exclusive right to carry out exploration and mining activities on alluvial deposits on tenements covered by the Yule River Project, located in the Pilbara region of Western Australia.
Mine For
gold, nickel, iron ore, vanadium
Location of operation(s)
Western Australia
Address
34 Bagot Rd
SUBIACO, WA, AUSTRALIA
Phone
(61 8) 9489 9200
Website
Last Updated
3/5/2011
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.
