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Hanns Camp Project - Exploration Update
Hanns Camp Project - Exploration Update.
About this update from Strategic Minerals Plc
[{"type":"text","content":"\n \nRNS Number : 6789C Strategic Minerals PLC 24 January 2018 \n\nMarket Abuse Regulation (MAR) Disclosure\nCertain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.\n \n24 January 2018\n \nStrategic Minerals plc\n(\"Strategic Minerals\", \"SML\" or the \"Company\")\n \nHanns Camp Cobalt / Nickel Project - Exploration Update \n \nStrategic Minerals plc (AIM: SML; USOTC: SMCDY), a diversified mineral production and development company, is pleased to announce the results for the 1 metre sampling for the nickel and cobalt targets at Central Australian Rare Earths' (\"CARE\") tenements at Hanns Camp, Western Australia, east of Laverton. \n \nKey Highlights\n \n· Confirmation of the 1,000m x 500m extent of the Cobalt - Nickel mineralisation \n \n· Stronger intersections include:\nHCAC004: 10m @ 0.65% Ni and 0.05% Co (0.93% Ni eq. or 0.18% Co eq.) from 9m\nHCAC015: 10m @ 0.63% Ni and 0.04% Co (0.83% Ni eq. or 0.16% Co eq.) from 16m\nHCAC028: 17m @ 1.20% Ni and 0.07% Co (1.57% Ni eq. or 0.31% Co eq.) from 31m\nHCAC029: 4m @ 1.35% Ni and 0.16% Co (2.18% Ni eq. or 0.43% Co eq.) from 17m\nHCAC030: 6m @ 0.72% Ni and 0.10% Co (1.24% Ni eq. or 0.24% Co eq.) from 8m \nHCAC039: 3m @ 1.11% Ni and 0.23% Co (2.28% Ni eq. or 0.45% Co eq.) from 37m\nHCAC048: 12m @ 1.04% Ni and 0.06% Co (1.36% Ni eq. or 0.27% Co eq.) from 29m\nHCAC049: 16m @ 0.93% Ni and 0.07% Co (1.30% Ni eq. or 0.26% Co eq.) from 48m\n \n· Moderate uplift in grade, especially nickel grades, when compared to 4m interval assays\n \n· Maximum 1 metre Nickel equivalent grade of 3.44% Ni Eq. (1.74% Ni and 0.34% Co)\n \n· Identified the existence of komatiite lava channel-facies rocks within the Hanns Camp ultramafic, one of the key requirements for the potential accumulation of nickel sulphides\n \n[1] Nickel and Cobalt equivalent (NiEq. or CoEq.) calculations based on a Nickel price of US$ 5.35 / lb and a cobalt price of US$ 27.1/ lb. \nChairman of Strategic Minerals, Mr Alan Broome AM, commented:\n \n\"The ongoing assaying from the recent air core dril...