Western Areas announces new high grade nickel discovery at Forrestania
Friday, Jan 25, 2013Western Areas Ltd (ASX:WSA) (Company) is very pleased to announce a significant new discovery of high grade nickel sulphides below the existing high grade New Morning deposit.
Assay results are being expedited from the drill core to confirm nickel grades.
The Company's first priority is to complete a down hole electro-magnetic (DHEM) survey this weekend. Based on these results a further drill program will be aimed at finding the centre of the lava channel which could host high grade massive sulphides similar to Flying Fox.
Western Areas Managing Director, Dan Lougher, said the Company was extremely encouraged by the results.
"Although drilling is clearly at an early stage, with one high grade drill hole to date, our inspection of the drill core indicates remarkable similarity to the positioning and style of the Flying Fox T5 high grade orebody."
"We will await the outcome of the DHEM over the weekend, and if the next few drill holes return additional high grade intercepts, we have the drill rigs and funds already available to quickly accelerate the rate of drilling at this new target," said Mr Lougher.
New Morning is located midway between Western Areas' Flying Fox and Spotted Quoll mines. Drilling has been in progress for several months to target possible extensions directly below New Morning at an equivalent position to the T5 mineralisation below the T3 Fault at Flying Fox.