29/09/2015 - 10:07

Western Areas moves ahead with SA exploration

29/09/2015 - 10:07

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Nickel miner Western Areas is moving forward with plans to increase its holding in South Australian tenements held by Monax Mining and Strandline Resources, and will begin a new drilling campaign in the coming weeks.

Western Areas moves ahead with SA exploration

Nickel miner Western Areas is moving forward with plans to increase its holding in South Australian tenements held by Monax Mining and Strandline Resources to 90 per cent, and will begin a new drilling campaign in the coming weeks.

Western Areas has spent $800,000 to earn a 75 per cent stake in the Western Gawler nickel-copper project, and has committed another $400,000 to boost its interest by a further 15 per cent.

The company has drilled 65 holes on the tenements to-date, which has confirmed the presence of magnetic nickel-copper sulphides, and will begin a new drilling campaign during the December quarter.

Western Areas managing director Dan Lougher said while it was early days, the drilling program reinforced the firm’s view that the project area was thought to be prospective for nickel and copper sulphide mineralisation.

“We’ve highlighted a number of prospective areas and rock types which we will continue to drill and review in a diligent and disciplined manner,” Mr Lougher said.

“The success to-date highlights that the Western Gawler region will continue to be an important part of our medium-to-long term growth pipeline.”

Western Areas shares were 3.8 per cent lower to $2.11 each at 10am.

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