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Knight Resources to drill 8,000 m at West Raglan 2007-04-09 17:48 ET - News Release Mr. Harvey Keats reports KNIGHT RESOURCES LTD.: CORPORATE UPDATE Knight Resources Ltd. will be undertaking an 8,000-metre drill program on its West Raglan project, located in Northern Quebec. The drill program will be focused on the Greater Frontier area, where the mineralization discovered to date and the geological setting are similar to Xstrata Nickel's Raglan mine, located approximately 100 kilometres to the east. Drilling is expected to commence in mid-June. The program is designed to investigate the continuation of previously encountered nickel mineralization that occurs in six zones over a 4.5-kilometre strike length. The total cost of the program is expected to be approximately $4.5-million. The 2006 program resulted in a breakthrough in the understanding of the complex geological picture in the Greater Frontier area. The Greater Frontier area is characterized by a swarming of ultramafic intrusions along the Raglan horizon. Three-dimensional magnetic inversion analyses suggest a much greater volume of ultramafic rocks in the Greater Frontier area than was previously interpreted. Discrete mineralized lenses in restricted troughs at the base of steeply dipping ultramafic units have been outlined near surface at Century, Frontier South and Frontier Central. Limited drilling down dip from known zones and in ultramafic units in the footwall of known zones has intersected mineralization and points to the potential for additional mineralized troughs at the base of ultramafic units. A table of West Raglan project drilling highlights from 2003 to 2006, including the company's discovery hole, WR-03-08, which intersected 14.75 metres of 3.04 per cent nickel and 1.13 per cent copper, and the best hole, WR-03-16, which intersected 5.12 metres of 4.16 per cent nickel and 1.64 per cent copper, including a 0.67-metre intersection of 11.83 per cent nickel and 2.03 per cent copper, can be viewed on the company's website. The objective of the 2007 program will be to discover new lenses down dip and along strike at the base of numerous mapped and interpreted ultramafic units throughout the Greater Frontier area. The 2007 field program will be carried out by Anglo American Exploration (Canada) Ltd. (AAEC), the operator of the West Raglan project. The West Raglan project is financed 51 per cent by AAEC and 49 per cent by Knight. The West Raglan project covers over 720 square kilometres and includes approximately 65 kilometres of the Raglan horizon, along which extensive ultramafic rocks typically occur. Numerous early stage nickel targets occur along this horizon over the West Raglan project, with the best results to date encountered in the Greater Frontier area. NewsBlast Sign-Up StockHouse NewsBlast: Receive company sponsored news and information via email. |
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| aus der Diskussion: | Knight Metals ehem. Knight Resources - Gute Bohrergebnisse |
| Autor (Datum des Eintrages): | Viper3x (10.04.07 07:59:41) |
| Beitrag: | 3,647 von 12,282 (ID:28734450) |
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