29th Mar 2005 12:05
Albidon Limited29 March 2005 Suite 1 Hillway House 141 BroadwayAlbidon Limited Nedlands 6009 Western Australia ARBN 107 288 755 Tel:x+61x8x9389 6300 Fax:x +61x8x9389 6400 Email: [email protected] ASX Code: ALB AIM Code: ALD via electronic lodgement http://www.rns-pdf.londonstockexchange.com/rns/2619k_-2005-3-29.pdf Large New Geophysical Conductor Target Identified at the Munali Nickel Project,Zambia HIGHLIGHTS • A strong, previously unmapped electrical conductor has been identified at Munali. • The conductor has a strike length of approximately 900 metres. • Estimated depth to the top of the conductor is typically 300 to 400 metres. • The conductor appears to be contiguous with nickel sulphide mineralisation in three areas but has not been directly tested by previous drilling. • Drilling is scheduled to commence next month. Geophysical Survey Method and Objectives The new conductor target was detected and delineated by a ground geophysicalsurvey utilising the NSAMT technique (Natural Source Audio-FrequencyMagneto-Telluric, 'AMT'). The survey was undertaken with the objective oftesting for the presence of conductor targets at depth within the 'Intrusion'that hosts the nickel sulphide mineralisation at the Munali Deposit in Zambia(see Figure 1 for location map in the hyperlink above). In particular, the AMT survey was designed to 'see' beneath the relativelynear-surface conductor targets defined in previous geophysical surveys. Theselatter conductors correlate with the position of nickel sulphide mineralisationbetween surface and a depth of about 200m, including the known Munali deposit,however these near-surface bodies would have a masking effect on any deepertargets that may exist within the Intrusion. A trial survey identified a strong conductor at depth so a detailed follow-upsurvey was completed at a line-spacing of 200m over the entire Intrusion. Results The AMT survey identified a new, strongly conductive body that was notidentified in previous surveys using different geophysical techniques. Thisconductor is approximately 900m long, appears to be contained within the MunaliIntrusion, and for most of its length is situated close to the northeasterncontact of the Intrusion. The survey also confirmed the presence of near-surfaceconductors associated with the Munali nickel deposit itself, as well as in twoareas about 1.5km to the northwest where narrow zones of massive sulphidemineralisation were encountered in drillholes MAD026 and MAD029 (see Figure 2 inthe hyperlink above). The estimated depth to the top of the conductor ranges from 150m to more than400m, with most estimates in the 300-400m range. The conductor has a complexinternal structure, and appears to migrate towards the west as it is traced tothe south, where it is interpreted to be located close to the deeper levels ofthe Munali deposit itself. Towards its northern end the conductor appears to becontiguous with the relatively near-surface nickel sulphide mineralisationintersected in drillholes MAD026 and MAD029 on the southwestern and northeasternmargins of the Intrusion, respectively (see Figure 2 in the hyperlink above). Planned Drilling Follow-up A drilling program has been designed to test the new conductor and is scheduledto commence as soon as possible next month. A number of drillholes will berequired to test such a large and apparently complex body. Information in this report relating to exploration results is based on datacompiled by Donal Windrim, who is employed by the Company. He has sufficientrelevant experience to qualify as a Competent Person under the JORC Code andconsents to the inclusion of the data in the form and context in which itappears. If you have any queries please contact the Company Secretary, Nicholas Day on+61 8 9389 6300 or email [email protected]. Additional information may also be viewed on Albidon's website atwww.albidon.com. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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