Mincor holds an outstanding suite of tenements in the world-class Kambalda Nickel District comprising approximately half of all land that is prospective for nickel sulphide mineralisation. Large sections of this tenement holding are also prospective for gold (as described in the previous section) and very significantly, the majority of the tenements are granted mining leases.
Brownfields and greenfields exploration has led to four new projects, with feasibility studies having been completed on two of them (Durkin North and Burnett), a high grade resource estimated on a third (Voyce) and an exciting new discovery made at the fourth (Cassini), which awaits infill and extensional drilling. In addition, highly prospective greenfields targets have been identified at Republican Hill and elsewhere along the extensive strike length of Mincor’s prospective ground.
Cassini – a new greenfields discovery with significant upside potential
The first high-grade “discovery hole” at Cassini was drilled in December 2014 with subsequent drilling defining mineralisation within a structurally complex channel system across a 430-metre strike length.
Infill drilling is required to allow for the estimation of a Mineral Resource, however Mincor has identified an Exploration Target within the area of drilling of between 400,000 and 500,000 tonnes at grades of between 3% and 4% nickel. Please note that this target is conceptual in nature and there is no certainty that further exploration will result in the estimation of a Mineral Resource. Please refer to Mincor’s ASX announcements dated 16 and 28 January 2015, 5 March 2015, 9 and 28 April 2015, 24 June 2015 and Mincor’s 2015 Annual Report, as well as the long section below.
Cassini long section, looking east
The above Exploration Target does not include significant additional potential lying outside the area that has been drilled, including both down-plunge and in additional channel structures associated with the magnetic high.
Based on this target, Mincor’s initial conceptual scoping study on Cassini suggests that the next stage of infill drilling is strongly warranted. There is also a number of highly prospective targets close by and these require further exploration drilling; focusing initially on extending the plunge of the known mineralisation, drill testing the second known channel structure (named CS1), and exploring the basal contact where it extends northwards around a large magnetic anomaly – considered a prime area to host further mineralised channel structures.
The upside case at Cassini is that the magnetic anomaly, which is thought to be the expression of a vastly thickened flow of fertile ultramafic rock, could host numerous mineralised channel structures – representing an exploration opportunity on a district scale.
Left: Cross section 6491860N showing multiple ore positions within the CS2 structure
Right: CS2/4 mineralised channels and regional targets associated with the Cassini magnetic anomaly
Voyce Nickel Project
Mincor’s discovery at Voyce contains a Resource estimated at 64,000 tonnes @ 5.2% nickel for 3,400 tonnes of contained nickel, 78% of which is classified as Indicated (please refer to Mincor’s March 2015 quarterly report (click here) and 2015 Annual Report). This small but high grade resource has potential to be part of a larger mineralised system that occupies both a down-plunge continuation of the Voyce channel as well as the adjacent Turner channel and these will be priority targets when drilling resumes.
Voyce itself comprises four separate pods that lie less than 150 metres below surface in the upper part of the Voyce channel. This is significant as additional pods may have been missed by the limited number of wide spaced exploration holes drilled previously. Voyce is located just 4 km south of the Mariners mine.
Long section showing the Voyce Resource area and the Voyce-Turner channel system