14 November 2007
 
 
ASX Announcement
 

RESOURCE UPDATE – MARRIOTT’S NICKEL PROJECT , W.A

RESOURCE INCREASE OF 25%

 

Australian Mines (ASX:AUZ) is pleased to announce a 25% increase in resources at its 100% owned Marriott’s nickel project, following the completion of Phase 1 infill diamond drilling.

 

Marriott’s, located 65 km from BHP Billiton’s Leinster nickel operation is Australia Mines’ most advanced nickel project outside of the Blair nickel mine.

 

The November 2007 Indicated and Inferred Resource to a vertical depth of 160 metres is now stated as:

 

830,000 tonnes @ 1.13 % nickel for 9,400 nickel tonnes

 

Chief Operating Officer, Mr. Brett Young commented that “The new resource figures further enhance the potential of Marriott’s to become the Company’s second mine in the near term.

 

Further information will be obtained during the December 2007 Quarter with an additional 7 diamond holes currently undergoing metallurgical tests. Also during the quarter we will be commencing a preliminary open pit scoping study.

 

Phase 2 drilling is planned in the March quarter to better define the limits of the orebody and convert more Inferred Resource to Indicated.

 

The November 2007 resource statement is contained in the table below:


 
Resource Category
Ore
(tonnes)
Ore Grade
(Ni %)
Nickel Metal
(tonnes)
 Indicated
460,000
1.12
5,100
 Inferred
370,000
1.15
4,300
 
 
 
 
Total
830,000
1.13
9,400
 
 

A detailed breakdown of the Marriott’s Indicated and Inferred Resource shows that tonnes and grade are both increasing with depth as shown in the table below:

 
Bench
From
Bench
To
Ore
Tonnes
Grade
Ni %

Nickel Tonnes

420m Rl
Surface
29,000
0.77
220
400m Rl
420m Rl
56,000
0.80
450
380m Rl
400m Rl
69,000
0.84
580
360m Rl
380m Rl
117,000
0.90
1,060
340m Rl
360m Rl
148,000
0.95
1,400
320m Rl
340m Rl
151,000
1.17
1,770
300m Rl
320m Rl
182,000
1.47
2,670
280m Rl
300m Rl
78,000
1.62
1,250
 
TOTAL
830,000
1.13 
9,400
 

Marriott’s – Combined Indicated and Inferred Resource table in 20 metre benches, November 2007

 
 

 

Marriott’s - Cross Sectional View of the November 2007 Resource Model

 

November 2007 Resource Model Parameters:

 

(a)        The resource model of November 2007 was based solely on Australian Mines diamond drilling on a combination of 40 metre by 20 metre and 20 metre by 20 metre patterns with sampling 1 metre intervals through the ore zones.

 

(b)        The assay technique used was 4-acid digest with ICP-OES finish.

 
(c)       The SG used for ore and waste is 2.7 tonnes /cubic metre.

            SG determinations have been undertaken on four holes and are continuing.

 

(d)       Geological interpretation used a 3D model of the ore surfaces created in Surpac.

 

(e)        The Surpac shapes enclosed material grading plus 0.5 % nickel, with a maximum of 2 metres of internal dilution.

 

(f)        Variography was conducted to determine the search ellipse for grade interpolation.

 
(g)        Grade interpolation was by Ordinary Kriging.
 
 
 

For further information contact:

Brett Young

Chief Operating Officer

Australian Mines Limited

Tel: 08 9481 5811

For media enquiries contact:

Robert Williams

Farrington National

Tel: 02 9332 4448

 
 
 
 

The information in this report that relates to Exploration Results and Mineral Resources is based on information compiled by Mr E Poole who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Poole in his capacity as Exploration Manager is a full time employer of Australian Mines Limited. Mr Poole has sufficient experience which is relevant to the style of mineralisation and type of deposits under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.’

 
Email Subscription


Latest News
Mt Martin Optimisation Study Results 21 July 2010
The recently completed optimisation study has indicated that an open pit mine would make a significant profit with various treatment options producing 50,000 - 60,000 ozs of Au at a gold price of A$1,300/oz
Mt Martin Exploration Update 9 July 2010
Encouraging results have been received from recent drilling of East Shear North
exploration target which lies to the east of the main Mt Martin pit.
50% Increase in gold Resources at Mt Martin 25th June 2010
Australian Mines Limited (ASX:AUZ) is pleased to announce an increase of approximately 50% in gold resources at the Mt Martin mine.
Mt Martin Resource Definition Drilling Recommences June 2010
Australian Mines Limited (ASX:AUZ) is pleased to announce that surface drilling will recommence at Mt Martin on Monday 14th June 2010 to further define new resources at Mt Martin.
Mt Martin RC Drill Results East Lode Pit May 2010
Australian Mines Limited (ASX:AUZ) is pleased to announce very encouraging results from its latest RC drilling under the East Lode pit at the Mt Martin Project
Drilling Recommences at Mt Martin 20/04/10
AUZ Mines which announced encouraging results on 6th April from drilling its 100% owned Mt Martin gold project will be recommencing drilling this week.
Copyright © 2010 Australian Mines | Disclaimer | Privacy