RRS 0.00% 0.1¢ range resources limited

10/01/2005 (aerrs) range: 'disappointing' assay re

  1. 6,368 Posts.
    HI FOLK'S

    I NEW THERE WAS SOMETHING WRONG WITH THE WAY THESE CHART'S WERE MOVING,

    Sydney - Monday - January 10: (RWE Australian Business News) -
    Range Resources today said an announcement released on December 24 had
    stated that significant sulphide mineralisation was encountered at the
    base of drillhole FSTRC17 in Forrestania, and that the company's
    consulting geologist had interpreted this sulphide occurrence to be
    potentially nickeliferous.
    "Preliminary assays have shown that the significant sulphide
    mineralisation located within FSTRC17 contains only very low-grade
    nickel not of economic significance," the company said today.
    Assays completed to date for 202m to 216m down-hole, the massive
    sulphide occurrence within FSTRC17, indicate low levels of nickel
    (127ppm avg/0.01pc Ni), copper (39ppm avg), gold (8ppb avg) and platinum
    group elements (18ppb avg).
    Tests to determine the mineralogy of the sulphides are still
    being carried out.
    "The results of the assays, though initially disappointing,
    provides further information in understanding the geology and
    geochemistry of the Forrestania Greenstone Belt.
    "As the drillhole finished in sulphides and below a sedimentary
    pile, the source of the sulphides has not been determined," Range said.
    A further drilling program to be planned will test beneath this
    sulphide occurrence.
    Range shares will be reinstated to trading tomorrow.
    ENDS
 
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