It took longer than we expected, but Global Metals (ASX:GXN) has finally released the results of five drill holes at their Australian Mt. Venn-project, which is approximately 125km from Laverton.
The best intercept was found in RC drill hole 027, which intercepted 4 meters of 2,890 ppm copper and 886 ppm nickel at a depth of only 48 meters from surface. The company is encouraged by these intercepts, and hopes to find a significant copper and nickel mineralization in the Phase II drill program, which will consist of Air Core drilling as the targets are quite large.
When asked for a comment, managing director Lia Darby stated ‘It’s great to have intersected copper and nickel sulphides of any sort at Mt Venn. It gives us confidence in the project as we step forward into phase two of the drilling program. Bear in mind that the “discovery hole” is rarely the first one (or the tenth or twentieth) at a project, and it can take a lot of work and several phases of drilling to get there.’
Read the full press release here (pdf)
Disclosure: Global Metals Exploration NL is a sponsoring company. Please see our disclaimer for current positions.
