19th Nov 2007 08:12
Albidon Limited19 November 2007 Level 1 62 Colin StALBIDON LIMITED West Perth 6005 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 DRILLING TO COMMENCE AT SUNNYSIDE NICKEL PROSPECT, BOTSWANA Paste the following link into your web browser to download the PDF document related to this announcement: http://www.rns-pdf.londonstockexchange.com/rns/9705h_-2007-11-19.pdf HIGHLIGHTS • Ground geophysical surveys have defined extensive conductor targets coincident with nickel and copper geochemical anomalies at the Sunnyside prospect in Botswana. • The geophysical targets are situated in a prospective geological setting in the southern portion of the Selebi-Phikwe nickel district. • Drilling is scheduled to commence at Sunnyside within the next two weeks. Sunnyside and Kgwedi Prospects The Sunnyside and Kgwedi prospects form part of an 8,705 square kilometretenement package held by Albidon to the south of Selebi-Phikwe, Africa's premiernickel mining district, located in eastern Botswana. This large package ofprospecting licences is 100% owned by Albidon and was taken up on the basis ofgeological similarities with the Selebi-Phikwe area, along with the presence ofa number of known nickel sulphide prospects located along major geologicalstructures in the region (see Diagram 1 in the above hyperlink). Geophysical Surveys Ground geophysical surveys comprising both induced polarisation ('IP') andelectromagnetic ('EM') techniques have been completed at the Sunnyside prospectin southern Botswana (see Diagram 1 in the above hyperlink for location map). AnIP survey has also been completed at the nearby Kgwedi prospect. The geophysicalprogrammes were undertaken to follow up reported mineral occurrences and soilgeochemical anomalies for nickel and copper that were outlined in explorationprogrammes undertaken by previous explorers in the 1970s. The recent geophysicsand earlier sampling programmes were targeted on mafic and ultramafic rockssimilar to those that host the large nickel deposits at Selebi-Phikwe to thenorth (see Diagram 1 in the above hyperlink). Drill Targets The geophysical surveys have delineated a number of highly chargeable and/orconductive zones over substantial areas, up to 2km in length, at both theSunnyside and Kgwedi prospects (see Diagram 2 in the above hyperlink). AtSunnyside, there is a close correspondence between the geophysical anomalytargets and the zones of elevated nickel and copper geochemistry defined by soilsampling (see Diagram 2 in the above hyperlink). For Kgwedi, the soilgeochemical assays are expected in the coming weeks. A drilling programme carried out by another company in the 1970's confirmed thepresence of nickel-copper sulphide mineralisation at a number of localities,however the drilling was of limited extent (see Diagram 2 in the abovehyperlink). The previous drilling encountered thin semi-massive sulphidescontained within broader areas of disseminated mineralisation, and it ispossible that these two styles of sulphide may be mapped by the two types ofgeophysical response, EM and IP, respectively (see Diagram 2 in the abovehyperlink) The geophysical survey data and soil geochemistry have been combined withgeological information from the historical drilling to define a number of drilltargets (see Diagram 2 in the above hyperlink). Forward Programme A drill programme of 3,900 metres is scheduled to commence within the next twoweeks. The objective of the programme is to provide an initial test of thecoincident geophysical and geochemical targets, and in particular to assesswhether these extensive anomalies are caused by nickel mineralisation similar tothat encountered in the 1970's drilling. Drilling will also be undertaken at theKgwedi prospect following receipt and analysis of the soil geochemical assaysand the results of ongoing ground EM surveys. An extensive programme of airborne EM surveys is planned in the coming months,to provide full coverage of the prospective geology located along the majorfault structures to the north and west of Sunnyside (see Diagram 1 in the abovehyperlink). 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 atwww.albidon.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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