Nex Metals Explorations
Nex Metals Explorations (ASX: NME) has exploration interests in gold, nickel and base metals, targeting mid-tier gold production and long mine life potential.
Nex Metals Explorations upgrades Admiral gold prospect in WA
Tuesday, March 16, 2010
Nex Metals Explorations (ASX: NME) has completed a program of 8 Reverse Circulation drillholes ranging in depth from 30 to 120m at the Admiral prospect (Phase 2 Kookynie Gold Project) in Western Australia.
A total of 599 metres were drilled. The modest drilling program was planned by the independant resource consultants, Hellman and Schofield, to upgrade the confidence classification of a portion of the Admiral resource from Indicated to Measured. The Admiral resource totals 129,000 ounces of gold.
The company said these results correlate very well with the previous drilling intersections. Basic analysis confirms that the grade and widths of the older drilling intersections was replicated and indeed increased with the results from this drilling program.
The overall grade was increased by 33% and the width of intersection was increased by 10% in the new drillholes.
The previously quoted Mineral Resource Estimates for the 100% Nex Kookynie Gold Project have all been calculated from good quality RC & DDrilling, and have a high drilling density, approximately 20m X 20m.
Previously, portions were in a Measured status however in 2004 the JORC code for resource reporting became more rigid and because these prospects were drilled pre digital in the 1980’s and 1990’s much of the drilling does not have the supporting QA – QC.
Independent Consultants are currently working on upgrading the Admiral Resource Model and this
will be released to the market once available.
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