HIGH-GRADE NICKEL INTERSECTION POINTS TO POTENTIAL NEW DISCOVERY AT MIITEL

Intersection of 1.75 metres @ 8.76% nickel above Southern End of South Miitel Mine Australian nickel mining company Mincor Resources NL (ASX: MCR) continues to unlock the exploration potential of its Kambalda ore bodies, today announcing a high-grade drill intersection beyond
the southern end of its Miitel Mine which could herald a new discovery along this prolific ore trend.
Mincor is carrying out a program of underground drilling at South Miitel designed to extend the
mineralisation beyond the current boundaries of the ore body. Results immediately along plunge of the ore body have been muted so far, but a hole targeted above the southern end of South Miitel returned a highly significant intersection:UMI-09-007: 1.75 metres @ 8.76% nickel
(estimated true width) The intersection occurs as medium to high tenor massive sulphides hosted entirely in basalt. The latter fact indicates that the intersection could represent the lower pinch-out position of a new ore body located above and south of the known South Miitel ore body.
The same hole also encountered disseminated mineralisation on two further open contact positions (that is, basalt overlain by ultramafic rock), the more significant of which returned 1.57 metres @ 1.78% nickel (estimated true width).
A down-hole electromagnetic survey (DHEM) has been carried out and preliminary results indicate an anomaly extending above and to the south of the massive sulphide intersection, and a strong and extensive anomaly to the south of and below the open contact intersection.
“These results could be very significant in the context of the geological setting of the Miitel ore system,” said Mincor’s Managing Director, Mr David Moore.
“The basalt-basalt intersection looks very much like the high-grade basalt-hosted massive sulphides that occur at the extremities of ore bodies along the Miitel trend and elsewhere in Kambalda. If this is the case, the implication is that an undiscovered ore body may lie above and to the south of our South Miitel ore body – an exciting prospect and one that we will pursue very actively; in addition the DHEM anomaly associated with the open contact intersection could represent mineralisation in a continuation of the channel structure that hosts the South Miitel ore body.”
Mincor’s Miitel Mine, which was its first Kambalda nickel mine, was placed on care and maintenance earlier this year as part of the Company’s response to the fall in nickel prices following the onset of the Global Financial Crisis.
However, it has traditionally been the Company’s most productive asset and is expected to recommence production in due course based on the almost untouched Ore Reserve at South Miitel – an important new ore body that was discovered by Mincor during 2005/06.
The new intersection at South Miitel is the latest in a series of emerging new discoveries made by Mincor in the months since it re-commenced exploration drilling following the global financial crisis.
These include the N10 discovery at Mariners Mine and the recently-announced high-grade intersections down-plunge of the Carnilya Hill Mine.