South Boulder’s (ASX: STB) flagship project is the world class Colluli Potash Fertilizer Project in Eritrea where mine production of 1Mt p.a. is scheduled for 2016 or sooner from the world's first open cut potash mine.
South Boulder also operates the Duketon Project in Western Australia where there is demonstrated potential for gold, nickel sulphide and base metal mineralisation.
South Boulder Mines and Independence Group announce further drilling at Duketon Nickel JV Project
South Boulder Mines (ASX: STB) and JV partner Independence Group (ASX: IVO) have reported the start of RC and diamond drilling at the Duketon Nickel Project.
Follow-up exploration drilling within the Duketon Nickel Project's Rosie and C2 Nickel Sulphide Prospects commenced last week.
The Rosie zone is approximately 2.5km’s south east of the initial 2006 Bulge C2 discovery.
Previous drilling has intersected a broad, robust first pass platinum/palladium/nickel/copper/gold signature over an approximate 350m strike length at the Rosie Prospect, with individual assays up to 8.23g/t Pt + Pd, 0.99% Cu and 1.4% Ni.
Additionally at The C2 Prospect, numerous robust drill intercepts have been defined over a 700m strike length including individual assays up to 3.43% Ni and up to 2.46g/t Pt+Pd.
Six RC holes have been planned at the Rosie Prospect to a depth of 250m. These RC holes will be drilled to follow up on the highly encouraging results intersected in a first pass aircore drilling program completed in August.
The RC drilling will test both down contact and further into the core of the ultramafic unit indentified at The Rosie Prospect. Four holes have been planned on section, ~50-60m to the north of each of the anomalous aircore holes TBAC122, TBAC124, TBAC126 and TBAC127.
The holes are planned to intersect the ultramafic contact ~80m down contact from the aircore intersections, and then drill ~100m into the ultramafic unit.
A further hole may be drilled to the north to try to intersect the EM conductor which sits ~130m north of the contact position and is modelled to be dipping to the south. A further two holes will be drilled to the south of TBAC126, into the body of the ultramafic unit.
Previously at ‘The Bulge’ C2 Prospect, numerous robust drill intercepts have been intersected including 50m @ 0.92% Ni from 275.m, 20m @ 1.00% Ni from 160m and 4.5m @ 2.04% Ni from 267m.
Individual assays up to 3.43% Ni with Pt+Pd grades up to 2.46g/t have also been returned.
Four RC holes with Diamond tails have been planned at the The Bulge C2 Prospect.
In early 2004, South Boulder entered a farm-out Joint Venture (JV) Agreement with Independence, whereby Independence can earn a 70% interest in the nickel rights on tenements held by South Boulder in the Duketon Project, by the completion of a Bankable Feasibility Study within 5 years of the grant of the relevant tenement.
