Livewire Exploration Watch
Mount Ridley Mines reported that a diamond hole at its Mt Riley prospect had intersected a discontinuous zone of nickel and copper sulphide mineralisation along strike from an earlier intersection and adjacent to a pronounced geophysical anomaly. Copper and nickel sulphides associated with a coarse grained olivine norite host share similarities with the Nova-Bollinger deposit to the northeast. The company has described the area as a dislocated extension of the Fraser Range block. Kingston Resources reported that a four hole exploration program co-funded with the Geological Survey of South Australia was unsuccessful. Gravity and magnetic anomalies that had been related to iron ore-copper-gold targets were barren mafic rocks. Mithril Resources has commenced a program to test the lateral extent of its Stark prospect in the Meekatharra region. Two planned holes are on either side of a previous 4 metre intersection of massive sulphide (1.91% Cu, 0.16% Ni and 3.94 g/t PGE) at a depth of 200 metres. A third hole will be directed at a new geophysical anomaly under gossan. Results are expected in late December.
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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