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Additional Information

Market:	ASX
Sector:	General Mining
EPIC:	ANW
Latest Price:	0.03 (0.00%)
52-week High:	0.19
52-week Low:	0.03
Market Cap:	1.62M

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AusNiCo Full AusNiCo profile here

AusNiCo (ASX: ANW) is a Queensland based minerals exploration company focused on the discovery and economic development of large scale nickel projects.

AusNiCo has discovered significant new ore-grade nickel-cobalt sulphides and copper-gold mineralisation zones at the Pembroke prospect on the Black Snake Plateau, 30km south of Kilkivan in Southeast Queensland.

AusNiCo moves closer to establishing tonnage potential in the Blake Snake Region

Friday, December 16, 2011 by John Phillips

AusNiCo (ASX: ANW) has now wrapped up a 12 hole 1300 metre reverse circulation drilling program at the Black Snake Plateau, which was aimed at further defining the extent of mineralisation at The Peak, Orion’s Belt, Pembroke, Mt Coora, and Mt Clara prospects.

Importantly for AusNiCo, assay results support extensions to the copper-gold-silver mineralised system at The Peak and Pembroke prospects.

Highlights from the program include:

- 8 metres at 43 grams per tonne (g/t) silver, 0.7% copper, 0.24g/t gold from 50 metres;
- 10 metres at 27.2g/t silver, 0.4% copper, 0.4g/t gold from 40 metres;
- 22 metres at 0.33% copper, 0.3g/t gold from 18 metres; and
- 6 metres at 1.2g/t gold from 12 metres.

AusNiCo said that results from the drilling campaign are encouraging and contribute to an increase in the area of copper-gold-silver mineralisation at The Peak and Pembroke prospects - with Pembroke remaining open to the west, north and at depth.

The Peak copper-gold-silver prospect will add to the already identified mineral endowment in the Black Snake Plateau region, which is in close proximity to the nonoperational Shamrock Mill.

Historic underground workings at the Peak extended over 200 metres of strike and high rock chips up to 700g/t silver.

AusNiCo successful in Tasmanian application

In other AusNiCo news, Mineral Resources Tasmania has advised the company that it has been successful in its competing application for ERA 882 in western Tasmania near Heazlewood River.

The tenement is located within the Devonian Meredith Granite and Cambrian Heazlewood Ultramafic complex and has numerous nickel and platinoid prospects as well as copper, lead, zinc and gold.

Past exploration work has reported Nickel sulphide breccia at Fenton’s Knob containing up to 1.4% nickel sulphide (Avebury Style), surface rock chip values at Brassy Hill to 18.3g/t gold, 15% lead, 8% copper and 4.7% nickel.

At Fenton’s prospect, results include up to 6 metres at 6.7ppm platinum and 9 metres at 4.0ppm platinum.

The ERA area is located about 25 kilometres west of Waratah and the Mt Bischoff Tin deposit containing 1.9 million tonnes at 0.96% tin.

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