Monday, October 24, 2011

Korab Resources Ltd [KOR] - Korab intercepts 163 m of sulphides at Batchelor project near Rum Jungle

Korab announced today that it has intercepted approximately 163 metres of visible disseminated sulphides while drilling at “Siltstone” nickel/polymetallic anomaly located near the town of Batchelor in the Northern Territory. Mineralisation extends from 71 metres depth to the bottom of the hole at 234 metres and remains open at depth.

Korab has intercepted 140 metre interval of ultramafic rocks with visible disseminated sulphides from 71 metres to 211 metres. Below the ultramafics, the hole has intercepted 23 metre interval of black shales rich in visible vein sulphides and pyrite. In total, 163 metre interval of visible sulphide mineralisation was intercepted before KORDD11-004 was terminated at 234 metres, still within sulphide mineralisation which remains open at depth. 

Main sulphide minerals are pentlandite, chalcopyrite and pyrrhotite. Presence of pentlandite, chalcopyrite and pyrrhotite at “Siltstone” is of special interest to Korab because these are the dominant minerals at Voiseys Bay complex in Canada. Furthermore, relative ratios of nickel, cobalt, copper and other metals in assayed samples from “Siltstone” resemble the relative ratios of these metals at Voisey's Bay Mine. Presence of elevated nickel/polymetallic mineralisation across drill intervals exceeding 100 metres in multiple holes, the lateral extent of the elevated nickel values in soil and rock chips over an area exceeding 1,200 metres in length, all indicate potential for a significant nickel/polymetallic deposit.. Importantly, Korab has discovered nickel/polymetallic mineralisation in a geological unit which historically, has not been considered to be nickeliferous and hence has received very little (if any) attention by explorers targeting nickel. Other holes drilled at t his prospect in 2010 have also intersected nickel in sulphides. KORC10-002 intercepted 48 metres of ultramafics containing elevated nickel from surface. KORC10-001 drilled 50 m to the south of KORC10-002 intercepted 102 metres of ultramafics containing elevated nickel from surface. In 2010, as part of an evaluation of multiple widespread zones of nickel, cobalt, copper, lead and zinc anomalism at Korab’s Batchelor project located 70km south of Darwin in the Northern Territory, Korab has drilled a number of reverse circulation holes to test various polymetallic anomalies (with nickel being the major metal) stretching over a distance of several kilometres. The largest of these anomalies, “Siltstone”, covers an area of approximately 1,200 metres long by 270 metres wide. “Siltstone” has significantly elevated nickel, cobalt, vanadium, copper and titanium values in soil and rock chip samples. 

Pentlandite is usually found within the lower margins of mineralised layered intrusions, such as the Voiseys Bay intrusive complex in Canada, the Bushveld igneous complex in South Africa and various others. Pentlandite is also the principal ore mineral in Kambalda type komatiitic nickel ore deposits in the Yilgarn Craton of Western Australia. Similar deposits exist at Nkomati, Namibia, in the Thompson Belt, Canada, and in Brazil. Pentlandite, chalcopyrite and PGEs is the dominant mix in the giant Norilsk nickel deposit in Russia while pentlandite-pyrite-pyrrhotite is the dominant mix at Sudbury deposit in Ontario, Canada. 

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