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Strategic Minerals posts positive preliminary results from drilling at CARE and Hanns Camp

Drilling has identified a number of prospective targets

Periodic table
Drilling shows Hanns Camp to be highly prospective for nickel sulphide mineralisation

Strategic Minerals Plc (LON:SML) has completed a 65 hole aircore drilling programme at the Hanns Camp joint venture and at the Mt Weld tenement of the Central Australian Rare Earths project, both in Australia,

A total of 3,863 metres was drilled. At Hanns Camp, 25 holes totalling 1,290m were drilled, while at Mt Weld, 40 holes totalling 2,573 metres were drilled.

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Full assay results have yet to be received, but early signs at the Hanns Camp South targets show one area to be prospective for nickel sulphide mineralisation.

Meanwhile, at Mt Weld, the company is targeting gold, nickel and rare earth elements.

"It is pleasing to see positive preliminary results from the recently completed aircore drilling programme,” said Alan Broome, chairman of Strategic Minerals.

“The CARE geological team has identified a number targets from this work, considered prospective for gold and nickel mineralisation within both the Hanns Camp and Mt Weld group of tenements from this early stage exploration. In light of these initial results, the board feels justified in continuing the exploration effort at these projects over the course of 2018 and expects to be able to fully fund these activities internally." 

 

 

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Price: 0.625 GBX

AIM:SML
Market: AIM
Market Cap: £9.17 m
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