RE: Friday's NR link2002-09-13 11:09 PT - News Release
Mr. Charles Fipke reports
EXPLORATION UPDATE
Ground geophysical surveys have commenced on the 100-per-cent-owned Al Masna nickel-copper-platinum project, Yemen. At the same time solid rock sampling surveys will be completed with the objective of closing geochemical anomalies still open for a distance of 3.3 kilometres to the north and elsewhere. This work will identify targets for drill testing in the autumn.
The Al Masna project comprises a vast nickel, copper, cobalt and platinum/palladium (platinum group elements) geochemical anomaly in a geological setting similar to that which hosts the Thompson nickel mine, Manitoba. Historical drilling within the anomalous area identified a one-metre-thick drill intercept of massive sulphides assaying 7.6 per cent nickel and 1.2 per cent copper flanked by a 50-metre drill intercept of disseminated mineralization assaying up to 1.2 per cent nickel.
The objective of the ground geophysical survey is to locate potential deposits of massive and disseminated sulphides. Several different electromagnetic methods will be tried (TEM, induced polarization, max-min) over the known mineralization and the best method(s) will be applied to routinely explore the target area of approximately five kilometres by one kilometre. Processing will be carried out on site and anomalies field checked to prioritize drill targets. The company has been fortunate to secure the services of Bill Amann, a hands-on intentational geophysicist, who specializes in electromagnetic surveys and who has several commercial nickel discoveries to his credit. Mr. Amann will lead the survey assisted by Dr. Peter Gregory and Yemen professional staff. It is expected that the work will be completed by early October.
The results of the soil and limited rock chip sampling have been described in Stockwatch in a July 15, 2002, press release. Since then geochemical analyses have been received for a further 101 rock samples. Most of these samples are weathered and ore metals may have been leached from them. Nevertheless, anomalous concentrations of platinum and palladium were found in several rock samples collected within and on strike from PGE soil anomalies thus confirming the prospectivity of the area for these metals. These results will be taken into account when assigning drill priorities.
Some of the previously obtained PGE and copper soil anomalies remain open on strike or width and additional samples will be collected to define the extent of these anomalies.
The company plans on drilling the priority geophysical and geochemical targets shortly after completion of the geophysical survey, using a locally available drill.
This is the release from Stockwatch