Total
0
Shares
Source: Mincor Resources
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Mincor Resources (MCR) receives assay results from the massive sulphide intersection between its Long and Durkin North mines near Kambalda, WA
  • Last week MCR reported a massive sulphide intersection from one diamond hole in an area termed the “Golden Mile”
  • Assay results returned 0.5 metres at 6.3 per cent nickel including 0.3 metres at 8.5 per cent nickel, which the company says confirms the high-grade tenor of the intersection
  • Another intersection has occurred 24 metres down-dip and is estimated to be 0.3 metres wide with MCR awaiting assay results to confirm the nickel grade
  • Shares have been trading 12.8 per cent higher at $1.28 cents at 2:56pm AEST

Mincor Resources (MCR) has received the assay results from the massive sulphide intersection between its Long and Durkin North mines near Kambalda, WA.

MCR has been undertaking a drilling program along an untested zone known as the “Golden Mile” and last week reported one diamond hole had yielded a massive sulphide intersection.

Now, the company has reported that the intercept contained 0.5 metres at 6.3 per cent nickel including 0.3 metres at 8.5 per cent nickel.

Managing Director David Southam said the results have boosted the company’s confidence in the potential of the Golden Mile.

“This intersection is located just 100 metres from existing underground mining infrastructure, highlighting its strategic importance to the company as our underground drilling program advances.”

MCR has also hit another intersection 24 metres down-dip from the assayed intersection.

The new intersection is estimated to be 0.3 metres wide, and portable-XRF analysis has confirmed its high-grade tenor — however this is a visual inspection only, and the company is awaiting assay results to confirm the average nickel grade.

David Southam said the additional intercept further verifies the “emerging potential” of the area.

“We are very encouraged by the fertility of the Golden Mile for massive sulphide
discoveries and, once we have our down-hole EM infrastructure installed in August, our geological understanding and targeting approach can be further refined as this substantial drilling program unfolds.”

In other news, David congratulated BHP Nickel West on its nickel supply arrangement with Tesla.

MCR has a nickel concentrate off-take agreement with BHP and the deal means Mincor could be a key participant in this global electric vehicle battery supply chain.

Shares have been trading 12.8 per cent higher at $1.28 cents at 2:56pm AEST.

MCR by the numbers
More From The Market Herald
Venus Metals (ASX:VMC) - Managing Director, Matthew Hogan

" Venus Metals (ASX:VMC) intersects encouraging mineralisation at Vidure

Venus Metals (VMC) has intersected encouraging copper-nickel-platinum group element (PGE) mineralisation at the Vidure Prospect.

" Whitehaven Coal (ASX:WHC) uses record prices to pay down debt

Whitehaven Coal (WHC) will use the uplift

" Alderan Resources (ASX:AL8) commences drilling at Detroit

Alderan Resources (AL8) has commenced drilling at its Detroit copper gold project, located in the US state of Utah.
RareX (ASX:REE) - Managing Director, Jeremy Robinson

" RareX (ASX:REE) begins scoping study at Cummins

RareX (REE) has begun a scoping study at its flagship Cummins Range Critical Metals Project.