ARE 0.00% 0.4¢ argonaut resources nl

new nickel

  1. 116 Posts.
    ASX ANNOUNCEMENT
    Argonaut Resources NL (ASX: ARE) is pleased to announce an additional focus for
    the Company’s gold exploration strategies in South East Asia with a new nickel
    discovery in Laos.
    Nickel sulphide mineralisation over a strike length of 2.8 kilometres has been
    identified at one of three nickel targets at Argonaut’s 223 square kilometre Century
    tenement adjoining the Mekong River bordering Thailand in northwest Laos.
    The Company will immediately investigate the nature of the nickel sulphide
    mineralisation - at the Nam Hone prospect - through laboratory testwork and, on
    confirmation of high nickel content in sulphides, proceed to drill test the target.
    Nickel anomalies at the two remaining targets, Houai Khouay and Vang Ma, further
    to the north but within the Century project area, are yet to be investigated.
    “The scope and grade of the nickel mineralisation is a welcome development. It
    provides significant opportunity in Laos to build a complementary campaign to our
    gold initiatives there,” Argonaut Managing Director, Mr Graeme Ellis, said.
    The discovery was confirmed after regional geochemical sampling at Century
    delineated three principle nickel targets at Nam Hone East, Houai Khouay and Vang
    Ma (Figure 1). Each of the anomalies was coincident with outcropping mafic
    intrusive rocks (gabbros).
    Early high grade indicators
    Argonaut geologists initially recognised the potential for an economic nickel deposit
    at Nam Hone East when ridge and spur soil samples, targeting gold at the nearby
    Nam Hone gold deposit, returned nickel values up to 0.68% in a gabbro intrusive
    body.
    The Company proceeded to delineate this target with further soil samples, hand auger,
    rock chip sampling and channel sampling of outcropping gabbro.
    Results include:
    • Six soil samples greater than 0.5% Ni
    • Six hand auger samples greater than 0.5% Ni
    • Peak bedrock channel sample: NHRL10: 4m at 0.51% Ni
    The north-south oriented nickel anomalism is seen over a strike length of 2.8km at
    Nam Hone East, with higher grade surface samples prevalent over 700m of strike
    length (Figure 2). Disseminated nickel sulphide mineralisation was observed in
    bedrock exposures.
    “The mineralisation at Nam Hone East appears to be similar to some of the new
    generation of disseminated nickel sulphide deposits in gabbroic rocks, such as
    Mirabela’s Santa Rita deposit in Brazil and Allegiance’s Avesbury deposit in
    Tasmania,” Mr Ellis said.
    “Disseminated deposits with a high nickel to sulphide ratio produce a higher grade Ni
    concentrate.
    “This is a significant commercial advantage and we will now proceed rapidly to
    testwork to further define the Nam Hone discovery.”
 
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