31st May 2016 10:38
LONDON (Alliance News) - Strategic Minerals PLC on Tuesday said the first drill hole at the Hanns Camp nickel-copper project in Australia has intersected nickel sulphides.
The company said the nickel sulphides were intersected in the first drill hole, HC001, and the characteristics were in line with the major Yilgan nickel deposits in Western Australia.
Further drill holes and an electromagnetic downhole survey will follow at the project.
"The first hole validation of the exploration concept is pleasing given the work that has gone into getting to this point," said Chairman Alan Broome.
Shares in Strategic Minerals were up 23% on the news to 0.35 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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