AGM 0.00% $1.60 australian governance & ethical index fund

AGM - Nickel Reward drill results - comments pleas

  1. 16 Posts.
    Melba Flats Nickel Suphide Proj/Encouraging Results


    HOMEX - Sydney


    Results from the first two cored drill holes of a five hole program
    at Melba Flats near Zeehan have been received. Both holes intersected
    narrow zones of massive sulphide carrying very high grade nickel and
    copper with associated platinum, palladium and gold. The best of
    which, MF23, gave 1.3 metres, 6.1% Nickel, 2% Cu plus Gold and PGMs.

    Drill hole results are tabulated below:


    MF 22 366,425.6 E 44.0 44.2 0.2 0.2 6.65% Ni
    5365955.9 N 8.1% Cu
    2200.3 RL 0.1% Co
    -45 deg dip 13.6% S
    291 deg GDA brg 0.76 g/t Pt
    80.5 m length 1.36 g/t Pd
    0.2 g/t Au

    MF 23 366426.8 E 64.1 65.6 1.5 1.3 6.10% Ni
    5365955.4 N 2.0% Cu
    2200.3 RL 0.10% Co
    -65 deg dip 13.2% S
    242 deg GDA brg 0.47 g/t Pt
    112.5 m 0.71 g/t Pd
    0.44 g/t Au
    69.0 69.5 0.5 0.4 4.01% Ni
    1.0% Cu
    0.10% Co
    14.0% S
    0.45 g/t Pt
    1.00 g/t Pd
    0.33 g/t Au
    74.5 75.2 0.7 0.6 6.16% Ni
    4.76% Cu
    0.14% Co
    21.2% S
    0.48 g/t Pt
    0.71 g/t Pd
    0.28 g/t Au


    MF 22 and MF 23 were both drilled at the Nickel Reward prospect to
    test for southern and up-dip (shallower) extensions of high grade
    massive sulphide mineralisation intersected in previous drill holes.

    Drill hole MF 22 intersected a narrow zone of high grade massive
    sulphide within a gabbro dyke host rock 20 metres south-west along
    strike of previously reported drill hole MF 19 which intersected 5.8
    metres 4.6% Ni, 1.8% Cu. The MF 22 intersection is only 30 metres
    beneath surface and is interpreted as an intersection through the
    very top of the Nickel Reward massive sulphide body.

    Drill hole MF 23 intersected three gabbro hosted high grade massive
    sulphide bodies within a 12 metre wide interval of mixed gabbro and
    brecciated sediments. These intersections lie approximately 20 metres
    south-west along strike of previously reported drill hole MF 11 and
    20 metres up-dip (above) previously reported hole MF 13 which
    intersected 3.6 metres 4.36% Ni, 2.86% Cu and 1.4 metres 7.2% Ni,
    2.1% Cu respectively.

    All of the massive sulphide intersections in MF 22 and MF 23
    contained significant platinum and palladium in the range 1-2 g/t Pt
    + Pd.

    A preliminary interpretation of the results of these first two holes
    suggest the Nickel Reward massive sulphide deposit is a steeply
    dipping pipe like body developed within a structurally deformed
    section of gabbro dyke host rocks.

    Results of the final three holes in this program are anticipated in
    early June.


    Allegiance believes that the various high grade near surface
    nickel/copper/cobalt plus PGMs and gold represent remobilised
    mineralisation from depth. The present program at Melba Flats is
    designed to better understand the structures containing and
    controlling the near surface manifestation of the mineralisation with
    the objective of (a) defining economic near surface accumulations and
    (b) subsequently follow the high grade shoots to the source. Genetic
    considerations suggest the source may represent a very significant

    A W Howland-Rose

    The information contained in this release is based on information
    compiled by Lindsay Newnham who is a corporate member of the
    Australasian Institute of Mining and Metallurgy and who has more than
    five years' experience in the field of activity being reported on.
    Lindsay Newnham consents to the inclusion in the report of the
    matters based on their information in the form and context in which
    it appears.

    Better results then the initial drilling in this area. Still another 3 holes to go in the current drilling operation
watchlist Created with Sketch. Add AGM (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.