Post by
chief0099 on Aug 14, 2007 10:08pm
BIG Nickel Discovery ....
WSA announces: New nickel zones and EM conductors confirm potential for major upgrade at Flying Fox mine
Tue Aug 14, 9:39 PM
ASX & TSX: WSA
WEST PERTH, Western Australia, Aug. 14 /CNW/ - On 8 August, Western Areas announced the first drill hole (FFD 136 W4) below the Flying Fox T5 ore body intersected three significant new zones of nickel sulphides. Preliminary analytical results using a portable Niton XRF analyser confirmed the presence of high grade nickel (up 10% Ni). T5 is one of the highest grade nickel deposits in the world with a total Mineral Resource of over 1 million tonnes at 6.8% Ni containing 69,800 tonnes nickel.
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What does all this mean?
Ni is worth about $12 a pound...do the math..
Total resource of T5 alone is $1.6 Billion.