MINCOR ACQUIRES HIGHLY PROSPECTIVE KAMBALDA NICKEL TENEMENTS
Australian nickel miner Mincor Resources NL (ASX: MCR) announced today that it has added a substantial package of highly prospective tenements to its land-holdings in the world-class Kambalda Nickel District.
The tenements are being acquired from Jupiter Mines Ltd through a Sale Agreement executed earlier today.
Completion of the acquisition, for a total cost of $200,000, remains subject to a number of statutory and regulatory approvals.
Mincor is already the largest holder of nickel tenements in the Kambalda Nickel District, where it has been in
successful production for nearly 11 years. Over that time Mincor has discovered an estimated 100,000 tonnes of nickel metal, and has produced more than 135,000 tonnes of nickel-in-ore.
The latest acquisition adds some 56.4 square kilometres to Mincor's landholdings in the southern part of the
Widgiemooltha Dome. The tenements are along strike of some of the most successful mines in Kambalda, including Mincor's operating Miitel and Mariners Mines and its former Redross Mine.
The new tenements contain approximately 12 kilometres of the strike of the basal contact, which is a direct
continuation of the key geological horizons that host the above-mentioned mines, themselves containing over
170,000 tonnes of nickel metal in mined and unmined mineral resources.
The fertility of the ultramafic rocks on the new tenements has been confirmed by a number of nickel sulphide drill intersections* achieved by previous explorers. These intersections include remobilised low-tenor massive sulphides as well as disseminated nickel sulphides. Once the acquisition is complete the new tenement package will become an important part of Mincor's aggressive and well-funded Kambalda nickel exploration program.
*Better historic diamond intersections >1% nickel include: