Ram Resources starts promising nickel copper drilling in West Kimberley
Date
4/27/2016 5:43:02 AM
(MENAFN- ProactiveInvestors - Australia)
Ram Resources Limited (ASX:RMR) will start drilling this week to test three strong bedrock conductors at its recently acquired West Kimberley nickel-copper project in Western Australia.
The conductors are interpreted to sit within a magnetic intensity zone which hosts known nickel mineralisation to the south-east at Buxton Resources’ (ASX:BUX) Double Magic Project.
The program is being funded in part by a $150000 grant provided under the Exploration Incentive Scheme run by the Western Australia Government’s Department of Mines and Petroleum.
The targets were identified last year by a High Power Fixed Loop Electromagnetic (HPFLEM) ground survey.
Ram’s geophysical consultants Southern Geoscience identified a total of eight discrete electromagnetic (EM) conductors ranging in depth from 75 metres to 175 metres below surface. Three out the eight are high-priority strong bed rock EM conductors.
The 1500 metres drill program which includes diamond drilling is expected to take a few weeks. Down-hole electro-magnetic surveys may be used to further define conductors.
As part of the preparation for this maiden drilling program Ram has paid the second option fee of $60000 in respect to the granted permit E04/1972 and the application permit E04/2314 which host the drilling targets.
Payment of this fee extends for a further 12 months Ram’s right to acquire an 80 per cent interest in the West Kimberley Project area. <
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