GDA 0.00% 10.0¢ gondwana resources limited

new nickel discovery "cyclops" 1.1km x 500m

  1. 3,267 Posts.
    A new Nickel project in the quarterly has a heap of information, some of the highlights...

    Cyclops Nickel Prospect:
    • A new 1.1km x 500m elongated circular aeromagnetic anomaly has been discovered under ultramafic outcrop in the airborne survey during the quarter.

    134m @ 1844 ppm Ni
    121m @ 1926 ppm Ni
    106m @ 1960 ppm Ni
    111m @ 1970 ppm Ni

    Historic geochemical results indicate an average of 2500 ppm nickel, up to 3500 ppm nickel on the surface which is typical ultramafic background values. Ground geophysics (IP / EM) was performed across the outcropping ultramafics and 5 targets were selected to be drilled from 240m to 300m depth.

    The aeromagnetic survey was originally flown to track the northern magnetic ultramafic zone under cover
    and was successful in delineating the plunging magnetic targets.
    What has been discovered in the centre of the mapped serpentinized ultramafics is a 1.1km long x 500m wide oval shaped magnetic anomaly which was only partially drill tested in 1972 (holes PH1 and PH3) and shown in figs 5 and 6.
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