November 21st, 2016 ASX Release
HIGH-POWER EM SURVEYS TO COMMENCE SHORTLY AT JIMBERLANA NICKEL PROSPECT, WA
AusQuest Limited (ASX: AQD) is pleased to advise that High Power Electromagnetic (HPEM) surveys are set to commence in late November to identify potential drill targets at the Jimberlana nickel-copper prospect located 130km west of Norseman in WA.
The surveys are expected to be completed before the end of the year.
The Jimberlana Prospect covers the western extension of a large (200km long) fractionated and highly fertile dyke-like intrusion which has the potential to host large-scale accumulations of nickel-copper sulphides near its base, similar to other intrusive-related deposits found worldwide (Voiseys Bay, Nova-Bollinger, Norilsk).
Recent research has recognised a strong association between intrusive-related nickel sulphide deposits and horizontal magma flow within dykes, which has the potential to create trap-sites near the base of these structures where large volumes of massive nickel sulphides can accumulate.
The HPEM surveys will cover a 10km strike length at the western end of the Jimberlana Dyke where gravity surveys indicate that the basal section or floor of the dyke is at relatively shallow depths (200m to 500m), well within the exploration range of current day EM systems.
Jimberlana Nickel Project: HPEM Survey outline
All previous exploration over the Jimberlana Dyke for either nickel or Platinum Group Elements (PGEs) has focused on the outer contact zones where nickel-copper sulphides have been intersected, or internal layering within the dyke where fractionation has helped to concentrate PGE mineralisation.
No previous exploration has targeted the floor of the dyke, which is now considered to be the most prospective location for massive nickel sulphide mineralisation within this intrusion.
The HPEM surveys will utilise 300m x 300m transmitter loops with receiver positions both inside and outside the loop. The initial surveys will be centred over the dyke with traverses run parallel to the strike of the dyke. Follow-up surveys will be required to optimise drill sites where conductors within the dyke are located.
AusQuest's Managing Director Graeme Drew said the Company was looking forward to the commencement of HPEM surveys at Jimberlana, which would provide the opportunity to test this new concept for nickel sulphide deposition within one of Australia's most unique and fertile intrusions.
Graeme Drew
Managing Director
COMPETENT PERSON'S STATEMENT
The details contained in this report that pertain to exploration results are based upon information compiled by Mr Graeme Drew, a full-time employee of AusQuest Limited. Mr Drew is a Fellow of the Australasian Institute of Mining and Metallurgy (AUSIMM) and has sufficient experience in the activity which he is undertaking to qualify as a Competent Person as defined in the December 2012 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" (JORC Code). Mr Drew consents to the inclusion in the report of the matters based upon his information in the form and context in which it appears.
FORWARD LOOKING STATEMENT
This report contains forward looking statements concerning the projects owned by AusQuest Limited. Statements concerning mining reserves and resources may also be deemed to be forward looking statements in that they involve estimates based on specific assumptions. Forward-looking statements are not statements of historical fact and actual events and results may differ materially from those described in the forward looking statements as a result of a variety of risks, uncertainties and other factors. Forward looking statements are based on management's beliefs, opinions and estimates as of the dates the forward looking statements are made and no obligation is assumed to update forward looking statements if these beliefs, opinions and estimates should change or to reflect other future developments.