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Australian Mines defines big nickel target at Marymia

Published: 23:20 31 Jul 2014 EDT

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Australian Mines (ASX:AUZ) has used a ground-based electromagnetic survey over its Marymia project in Western Australia to detect a strongly conductive body beneath an historic nickel-in-soil anomaly.

Modelling of this geophysical anomaly by Southern Geoscience Consultants indicates that the source is a 400 metre long body, which is strongly conductive and appears to parallel a previously reported 1,200 by 600 metre nickel-copper soil anomaly.

The top of this conductive body is estimated to be 250 metres below the surface and continues to a depth of at least 700 metres, being the depth limitation of the geophysical equipment.

Significantly, the modelled conductor sits on the margin of a magnetic high, which is the interpreted basal contact of an ultramafic unit.

Based on the geophysical characteristics of this conductive body, the anomaly represents a target for massive sulphide mineralisation that could be related to nickel, copper or possibly DeGrussa-style VMS copper-gold mineralisation.

Its similarity to a Kambalda-style nickel sulphide deposit is enhanced by recent independent research, which indicated that the ultramafic rocks within Marymia may be the same ultramafic sequence that hosts the Kambalda, Mt Keith, Perseverance and Cosmos nickel deposits.

Australian Mines has designed an initial drill program to test the source of this bedrock conductor, coined Simmons, which is scheduled to commence by September, with final assays in October.

With more than 20 kilometres of prospective ultramafic rocks present within the Marymia project area, in addition to a number of promising DeGrussa-style copper-gold targets adjacent to the Jenkin Fault structure, AUZ will continue to expand electromagnetics coverage across the 425 square kilometre project area.

AUZ is presently valued at $4 million.

 

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