Livewire Exploration Watch
Peel Mining reported a diamond drill intersection 50 metres north of its Mallee Bull copper deposit in central New South Wales measuring 62 metres (40 metres true width) at 3.15% Cu, 42 g/t Ag and 0.28 g/t Au from 465 metres down hole including 34 metres at 4.6% Cu, 63 g/t Ag and 0.44 g/t Au from 475 metres. A second hole, for which assays are awaited, intersected mineralised sulphides 75 metres below this. Botswana Metals completed a three hole drill program testing discrete electromagnetic anomalies on a trend 4-7 km from defined nickel sulphide resources at Maibele North in Botswana. Thick intervals of iron sulphides matching the anomalies in two of the holes were reported but nickel sulphides were not observed. Carnarvon Petroleum will test a stacked sequence of Triassic age Lower Keraudren Formation sediments in 80 metres of water 30km southeast of its Phoenix South-1 discovery off the WA coast. A 66 metre interval of oil bearing sandstones was intersected last August. The new well, due to spud this month, is expected to take 50-60 days to complete.
John Robertson is Chief Investment Strategist for PortfolioDirect a provider of resource sector investment stock ratings and portfolio strategies for mining and oil and gas investors. He has worked as a policy economist, corporate business...
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