Caeneus completes RC drilling at Pilbara nickel-copper-cobalt deposit
Caeneus Minerals (ASX:CAD) this morning provided an explorationupdate regarding its 80% owned Pardoo Project in WA's Pilbara region.
CAD reported that it has completed a 10 hole RC programmeat the Pardoo Highway nickel-copper-cobalt deposit that it owns in a joint venturewith Arrow Minerals (ASX:AMD).
The Highway deposit has been a focus for past explorersprimarily attempting to identify the source of sulphides for this large,nickel-copper-cobalt deposit. Any detection of nickel-copper-cobalt mineralisationwithin the disseminated sulphides identified from the recent RC programme willbe of great interest and form the basis for the next stage of explorationplanning for the up and coming field season.
CAD finished drilling the RC holes at the end of October, afterwhich the samples were immediately placed in storage as a cost saving measure sowere not processed, tested or analysed. The samples have now been collectedfrom storage and submitted for assays with ALS Global.
A sample log was also recovered and inspected against thefield geological logging datasheets recently received. Samples were onlycollected from those holes that made it to basement or planned target depth(PRC01-PRC07) with other holes abandoned due to unforeseen deep running sands/gravels.The assay results are due this month.
If there is any encouraging anomalous base metals or goldencountered in the assays CAD will plan new high powered ground geophysicalsurveys to assist in locating the source of the sulphides and commence followup RC drilling based on favourable geology. Original holes of interest will beinvestigated for possible down-hole electromagnetics if practical.
Get the latest articles straight to your inboxkeep me postedOverall this is an earlystage play and as such any investment decision should be made with caution andprofessional financial advice should be sought.
The Pardoo Highway nickel-copper-cobalt Project is situatedin a similar structural setting, adjacent to the major regional Tabba shearzone, as other significant Pilbara based nickel-copper occurrences such asRadio Hill and Sherlock Bay. The Tabba shear fault zone extends for some 150 kilometresand is well endowed with multiple hydrothermal shear related gold depositsalso, most notably De Grey Mining's (ASX:DEG) Indee Gold deposits'.
Further results are expected to arrive over the coming days,while planning of planning of future activities at Pardoo is underway.
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