Nickel in today's PR is 12 gram Gold a Tonne Equiv Still studying the PR:
This new zone extends over 160 metres of strike and 50 metres high above the northern end of the drilled area with potential to extend a further 50 metres up-dip to the basalt/ultramafic contact, at depth and further along strike to the north. Drill intersection highlights are listed below:
Main Shear and Hanging wall zone positions1.:
WFN-090: 3.8 g/t over 9.9 m;
WFN-100: 3.0 g/t over 17.8 m;
WFN-106exp: 5.1 g/t over 7.6 m;
WFN-109: 3.9 g/t over 9.9 m;
WFN-124: 3.0 g/t over 12.9 m, including 7.5 g/t over 3.6 m;
WFN-130: 8.1 g/t over 6.6 m, including, 13.7g/t over 3.3 m;
Footwall (new zone)1.:
WFN-106exp: 4.6 g/t over 9.4 m;
WFN-115: 6.0 g/t over 5.3 m;
WFN-119A: 4.6 g/t over 6.0 m;
WFN-123: 2.4 g/t over 4.2 m;
WFN-125: 4.5 g/t over 3.4 m;
WFN-128exp: 4.3 g/t over 4 m;
WFN-131exp: 7.0 g/t over 8.6m;
WFN-132: 2.2 g/t over 26.7m, including 9.4 g/t over 1.8m;
WFN-134: 2.4g/t over 23.3m, including 6.3g/t over 6.0m;
Nickel Drill Results – Western Flanks North
Selected holes aimed at upgrading the existing gold mineral resource were extended through the basalt/ultramafic contact to test the continuity of the Western Flanks nickel mineralization at this contact position. Drilling has intersected both massive and matrix nickel sulphides on the contact position and a thrusted ultramafic (lower) position within the basalt. Results to date have highlighted the potential for high grade nickel sulphide shoots to occur within the zone of nickel mineralization above the Western Flanks gold mineral resource.
Western Flanks Nickel-Upper1.:
WFN-103A: 7.2% over 1.2m;
WFN-096: 5.3% over 0.5 m;
WFN-135: 5.2% over 0.8 m;
WFN-134: 5.6% over 0.7 m;
WFN-118: 4.1% over 2.2 m
On the new nickel it looks like about 1 meter thick at 5% nickel. Over 2% is considered high grade. 5% = $747.37 /tonne https://undervaluedequity.com/metal-value-per-tonne-how-you-can-determine-the-mineral-value-per-tonne/ So that is the same at 12 grams of gold per tonne. So the same as finding a new extensive 1 meter thick 12 gram gold section except there is no mill capacity issue at HGO just take it literary next door to BHP concentrator, as much as you want to.
On gold this is not pyritic/shear gold it is on top near nickel so they can mine both with same infrastructure.
The market loves this, my accounts would be down on this bad crash day but are up because of Karora. Oil down 7% QQQ over 3% down a crash.
Cheers