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LONDON (Alliance News) - Strategic Minerals PLC on Thursday said it has completed the maiden drill programme at its Hanns Camp project in Australia.
The multi-minerals production and development company said anomalous nickel and platinum intervals were found in holes HC001 and HC003, leaving Strategic Minerals "confident" that Hanns Camp is "positioned in the favourable geological setting" for typical West Australian Yilgarn nickel sulphide deposits.
Strategic Minerals said the nickel results were "very encouraging", and while platinum is not its initial focus for Hanns Camp, the results are "significant enough" that they will be further investigated along with nickel.
Strategic Minerals added that the diamond drill core is in the process of being sampled with analysis results expected during July.
"The lab results received are very encouraging as they have identified traces of the targeted nickel sulphide as well as the possibility of a commercial platinum deposit," Managing Director John Peters said in a statement.
"The company now awaits the completion of the technical team's full review before informing the market on its assessment as to the likely nickel sulphide accumulations and its plans to further clarify the mineralisation of the tenements," he added.
Shares in Strategic Minerals were trading down 2.7% at 0.365 pence on Thursday morning.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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