Barra Resources (ASX: BAR) an exploration and mining company with a focus on targeting and developing high grade gold and base metal deposits in Western Australia.
Barra Resources shares rise on more high grade nickel at Mt Thirsty JV
Perth-based Barra Resources (ASX: BAR) and 50% Joint Venture partner Fission Energy (ASX: FIS) have reported that further assays from hole MTRC022 at Mt Thirsty, which recently intersected significant nickel sulphides, have returned 2m @ 3.5% Nickel from 118 to 120m down hole, including 1m @ 4.7% Nickel.
Barra said this intersection is very encouraging as "the mineralisation is interpreted to have been affected by a pegmatite intrusion which has disrupted the footwall contact and has probably removed some of the nickel sulphides, as often occurs at Kambalda."
Hole MTRC022 is now the third hole drilled at Mt Thirsty which has returned high nickel grades. The other significant down hole intercepts include holes MTRC015 and MTRC020 with 6m @ 3.4% and 2m @ 5.9% Ni respectively.
Mt Thirsty is located 20 kilometres north‐northwest of Norseman in the southern goldfields of Western Australia a well endowed nickel terrain.
In May this year RC hole MTRC015 intersected a thick zone of nickel sulphides assaying 3.4% nickel over 6m from a down hole depth of 201 metres, adjacent to the footwall ultramafic contact within an interpreted lava channel embayment.
An initial six hole RC drilling program to follow up this intersection has now been completed. All holes were inclined at 60 degrees towards magnetic west.
The first two holes (MTRC018 & 019) in the follow up program were drilled 25 and 50m respectively to the south of MTRC015 on the same easting and intersected only a weakly mineralised footwall contact at shallower depth, suggesting the channel has closed out in this direction and further potential lies to the north.
MTRC020 was drilled 50m to the north of MTRC015 on the same easting, and intersected nickel sulphide stringers over a 2m interval from 208 to 210m down hole averaging 5.9% nickel.
Gary Berrell, chairman, said further RC drilling is planned later this month to follow up these "extremely encouraging" first pass results and further evaluate the potential of this new nickel sulphide discovery to host a significant nickel deposit.
