Korab announced the discovery of nickel at their Batchelor project site in Rum Jungle, Northern Territory. Vertical drill hole KORC1001, drilled on the northern perimeter of “Siltstone” nickel anomaly, intersected 102m of nickel sulphides from surface and drill hole KORC1002, drilled 50m north of hole KORC1001, intersected 48m of nickel sulphides from surface. Korab has drilled two reverse circulation holes to test the northern perimeter as part of an evaluation of widespread zones of nickel, cobalt, copper, lead and zinc anomalism at Korab’s Batchelor project. The “Siltstone” anomaly extends for 1200m and is 120-270m wide. Korab submitted single meter drill samples from the anomalous intervals of holes KORC1001 and KORC1002 for analysis, after laboratory assays on 6-meter composite drill samples from “Siltstone” were completed; results of the assays are expected in 3 weeks. “Siltstone” anomaly coincides with a magnetic feature and an electromagnetic anomaly much like Vale Inco’s Voisey’s Bay nickel mine in Canada; nickel mineralisation at “Siltstone” occurs in combination with elevated cobalt and anomalous copper. Furthermore, the Bay’s main source of nickel is also pentlandite (iron-nickel sulphide). Rum Jungle projects also contain several cobalt, lead and zinc anomalies that Korab plans to drill test following the completion of the drill testing of nickel anomalies.
