RRS 0.00% 0.1¢ range resources limited

"they once said"-this areas is hot

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    F O R R E S T A N I A N I CKE L T E N E M E N T S - U P D A T E-----12 months ago
    Range Resources Ltd (ASX Code: RRS) is pleased to advise that it has raised $2.7
    million following the placement of shares to clients of brokers and to sophisticated
    investors. Range had intended raising $2.4 million but will also accept the over
    subscriptions. The issue of the shares for the placements is subject to shareholder
    The directors have previously announced that they have entered into an option
    agreement to acquire a 100% interest in tenements in the Forrestania Nickel
    Province of Western Australia.
    The Forrestania and Westonia tenement package includes a total of 17 tenements
    and applications with a total area of approximately 30 square kilometres. The 13
    Forrestania tenements are situated immediately adjacent to the northern boundary
    and north-west of the Western Areas NL mining lease containing the Flying Fox
    nickel sulphide mine and a new discovery below and south of the mine.
    Western Areas’ new discovery which included significant high grade intersections
    of nickel sulphide including a drill intersection of 6.6m @ 7.9% nickel (hole
    FFD132) and a drill intersection of 21.4m @ 7.8% nickel (hole FFD 133) has been
    reported to have the potential to become a new orebody with similar
    characteristics to Jubilee’s Cosmos orebody. Recent follow up drilling by Western
    Areas has shown the zone to be more complex than first envisaged.
    Western Areas are currently drilling approximately 500 metres south of Range’s
    southern boundary of tenement P77/3449 (application).
    The significance of the location of this tenement is that the interpreted northerly
    strike direction of the ultramafic nickel sulphide host lithology trends directly
    towards, through and past the ground covered by Range’s tenement.
    2 1 9 – 2 2 1 Y O R K S T R E E T S U B I A C O WA 6 0 0 8 | P O B O X 8 1 6 WE S T P E R T H WA 6 8 7 2
    T : ( 6 1 - 8 ) 9 3 8 2 1 3 1 1 | F : ( 6 1 - 8 ) 9 3 8 2 1 3 2 2 | E : i n f o @ r a n g e r e s o u r c e s . c o m. a u
    w w w . r a n g e r e s o u r c e s . c o m. a u
    A BN 8 8 0 0 2 5 2 2 0 0 9
    Range’s Exploration Licence 77/729 is located 10 km north of the Flying Fox
    deposit and its northerly strike. The strike of the same nickel mineralisation host
    lithology is interpreted from available magnetic survey and shallow drill hole data
    to trend directly through this tenement. Two samples from adjacent RAB drill
    holes have yielded results of over 0.5% nickel. These holes are part of a systematic
    pattern of previous geochemical exploration and are approximately in the centre of
    the exploration licence.
    Other exploration and prospecting licences are located 8 and 10 km north of the
    Flying Fox deposit and cover the eastern limb of the northerly trending
    ultramafic/felsic contact zone. Geochemical results from single samples have
    returned results of up to 130 ppb Au which is anomalous for this region.
    Range’s consulting geologist has concluded that the Forrestania tenements are
    prospective for the occurrence of both nickel and gold mineralisation. Range
    intends to examine recommendations for detailed geological mapping and
    geophysical surveying (EM) to further define drill target areas.
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