7th Apr 2008 10:34
Albidon Limited07 April 2008 Level 1 62 Colin St West Perth 6005ALBIDON LIMITED Western Australia ARBN 107 288 755 Tel: +61 8 9211 4600 Fax: +61 8 9211 4699 Email:[email protected] ASX Code: ALB AIM Code: ALD Paste the following link into your web browser to download the PDF document related to this announcement: http://www.rns-pdf.londonstockexchange.com/rns/7383r_-2008-4-7.pdf DRILLING CONFIRMS NICKEL DISCOVERY AT SUNNYSIDE, BOTSWANA HIGHLIGHTS • Massive and disseminated nickel sulphide mineralisation has been intersected in drilling at the Sunnyside prospect in Botswana. • Mineralisation has been intersected in 5 drill holes over a strike length of 400 metres and is open in several directions. • Ni, Cu and Co have been confirmed by partial assay results received for one drill hole, with up to 1.3% Ni, 0.37% Cu and 0.08% Co in a semi-massive sulphide interval. • Further assay results are expected to be available in the coming weeks. • Drilling is continuing, with a third rig now mobilised to site. Sunnyside Nickel Prospect The Sunnyside prospect forms part of an 8,705 square kilometre tenement packageheld by Albidon to the south of Selebi-Phikwe, Africa's premier nickel miningdistrict, located in eastern Botswana. This large package of prospectinglicences is 100% owned by Albidon and was taken up on the basis of geologicalsimilarities with the Selebi-Phikwe area, along with the presence of a number ofknown nickel sulphide prospects located along major geological structures in theregion (see Diagram 1 for location in the hyperlink above). Drilling Programme The core drilling programme at Sunnyside is designed to test coincidentgeophysical and geochemical targets over a zone that is 2km in length. Thesetargets are associated with mafic and ultramafic rocks similar to those thatcontain the large nickel orebodies at Selebi-Phikwe to the north (see Diagram 1in the hyperlink above). Sulphide mineralisation has been intersected in 5 drillholes to date (seeDiagram 2 in the hyperlink above). Partial assays have been received for onedrillhole, ALB002 which contains narrow zones of semi-massive sulphide. Theavailable assay results and drillhole location data are listed in Tables 1 and2. The prospectivity at Sunnyside is confirmed by drill assays up to 1.3% Ni andalso by portable analytical equipment (XRF Analyser) which has verified thevisual identification of the nickel mineral pentlandite in several othersulphide intersections for which assays are pending. The pentllandite isaccompanied by the copper mineral chalcopyrite, and pyrrhotite (an iron sulphidemineral). Mineralisation varies from massive sulphide through matrix-textured sulphide todisseminated sulphide. Massive and semi-massive sulphide has a thickness of onemetre to several metres and is associated with matrix textured mineralisation ordisseminated sulphides which are several metres to tens of metres thick (seePhotographs in Diagram 3 and 4 in the hyperlink above). The nickel mineralisation is hosted by ultramafic and mafic rocks similar tothose at Selebi-Phikwe and confirms the discovery of massive nickel sulphidereported in a 1970's exploration programme that was not adequately followed upat that time. Forward Programme • Assay results are expected for the Sunnyside drill samples in the next few weeks and will be reported when available. • Drilling is continuing at Sunnyside with the aim of testing the full extent of the geophysical and geochemical targets. An initial programme of approximately 20 drill holes is envisaged. • Drilling will also be undertaken to test geophysical and geochemical targets at the Kgwedi nickel prospect located some 30km to the west (see Diagram 1 for location in the hyperlink above). • Results will become available for an extensive airborne electromagnetic survey recently completed over prospective geology located along the major fault structures to the north and west of Sunnyside (see Diagram 1 in the hyperlink above). Table 1: Drill intersections and assay results currently available fordrillhole ALB002. Drillhole From To Interval (M) Ni % Cu % Co % PGM g/t ALB002 32.47 32.95 0.48 1.32 0.37 0.08 PendingALB002 33.57 35.6 2.03 0.95 0.41 Pending Pending Note that Co, Pt and Pd assays are awaited for most samples. Table 2: Collar position, total depth and orientation for core drill holeALB002. Hole ID Easting Northing Depth Dip Azimuth ALB002 585500 7447450 302.41 -60 180 The Australasian Code for Reporting of Exploration Results, Mineral Resourcesand Ore Reserves (the 'JORC Code') sets out minimum standards, recommendationsand guidelines for Public Reporting in Australasia of Exploration Results,Mineral Resources and Ore Reserves. The information contained in thisannouncement has been presented in accordance with the JORC Code. Information in this report relating to exploration results is based on datacompiled by John Schloderer an employee of the Company, who is a member of TheAustralasian Institute of Mining and Metallurgy. John Schloderer has sufficientexperience which is relevant to the style of mineralisation and type of depositunder consideration and to the activity which he is undertaking to qualify as aCompetent Person under the 2004 Edition of the Australasian Code for reportingof Exploration Results, Mineral Resources and Ore Reserves. John Schlodererconsents to the inclusion of the data in the form and context in which itappears. If you have any queries please contact the Chief Financial Officer, Nicholas Dayor Managing Director, Dale Rogers on +61 8 9211 4600 or email [email protected]. Albidon's nominated adviser is RFC Corporate Finance Ltd, contact Stephen Allen+61 8 9480 2500. Additional information may also be viewed on Albidon's website at www.albidon.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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