Mirabela announces discovery of new mineralized zone southeast of Santa Rita



    PERTH, Western Australia, Nov. 15 /CNW/ - Mirabela Nickel Limited
("Mirabela") (TSX: MNB, ASX: MBN) is pleased to announce the discovery of a
new mineralized zone in the South East Extension area. Initial results from
the South East Extension Drilling have confirmed the occurrence of a new zone
of mineralization 225m southeast of the current Santa Rita resource. The new
area has produced excellent results including MBS 439 which returned 89m at
0.69% Ni. Highlights of the results are as follows:

    
    -------------------------------------------------------------------------
                                                    Composite
                                 From               downhole
    Hole ID                       (m)               width(3)             Ni%
    -------------------------------------------------------------------------
    MBS 432(1)                     8                   17               0.79
    MBS 435                       13                   66               0.53
    MBS 439                       67                   89               0.69
    MBS 441(2)                     6                   78               0.59
    MBS 445                       43                   32               0.57
    MBS 449                      154                   49               0.72
    -------------------------------------------------------------------------
               0.4% Ni cut off grade, 4m minimum mining width
      (1) Oxidised intersection to 14m, (2) Oxidised intersection to 10m.
           (3) The actual drilling intersections that are comprised
         in the composite downhole widths are shown in Attachment 1.
    

    Initial drilling targeted a line of anomalous Cu-Ni in soil located over
200m southeast of where the mineralization was previously thought to
terminate. The drilling, previously orientated to the west, was re-orientated
to the south to better intersect potential east-west striking mineralization.
Drill hole MBS 439 (89m @ 0.69%Ni) was the first hole to be orientated to the
south. Drill hole MBS 449 (49m @ 0.72%Ni) is located 80m down dip of MBS 439
and shows the continuity of the mineralization down dip.
    Drilling to date has encountered mineralization along 200m of strike
length, with an average true width of 50m, primarily within the pyroxenite
unit similar to that seen in the Southern zone of Santa Rita. Two down dip
drill holes, each over 400m deep, contain thick intersections of visible
sulfides with assays outstanding. The mineralization remains open at depth and
along strike to the east. Drilling continues in the area, to date we have
completed 30 drill holes for 7,000m of an initial 10,000m program.
    This new discovery is exciting as it opens up additional strike with a
new orientation, open to the east, and at similar widths and grades to the
existing Santa Rita resource, which could lead to a material increase in the
Santa Rita resource. This new South East zone is already returning higher
grades and considerably thicker intersections than those seen at Peri Peri,
and like Peri Peri the mineralization is occurring at the intrusion-basement
contact.
    Following the initial discovery, extensive soil geochemical sampling and
stream sediment programs were undertaken across the whole eastern contact of
the Santa Rita intrusion, closing in the existing sample spacing. Results from
these programs and additional drilling in the South East zone are being
delayed by slow assay turn-around times.
    Attached are further details of the latest drilling results. An updated
schematic plan view of the location of the results will be posted on the
Company's website www.mirabela.com.au.

    The information in this report that relates to Exploration Results,
Mineral Resources or Ore Reserves is based on information compiled by Nick
Poll, who is a Member of The Australasia Institute of Mining and Metallurgy.
Nick Poll is employed by Mirabela Nickel Ltd.

    Nick Poll has sufficient experience which is relevant to the style of
mineralization and type of deposit under consideration and to the activity
which he is undertaking to qualify as a Competent Person as defined in the
2004 Edition of the 'Australasian Code for Reporting of Exploration Results,
Mineral Resources and Ore Reserve'. Nick Poll consents to the inclusion in the
report of the matters based on his information in the form and context in
which it appears.

    
           Attachment 1: New significant intersections - Southern
                             Extension Drilling
                           (0.4% Ni cut off grade)

    -------------------------------------------------------------------------
                        From         To       Downhole
    Hole ID              (m)         (m)      width(8)       Ni%         Cu%
    -------------------------------------------------------------------------

    MBS 432(4)              8          25         17        0.79        0.22

    MBS 435                13          61         48        0.55        0.19
    MBS 435                70          75          5        0.46        0.12
    MBS 435                81          94         13        0.49        0.11

    MBS 436(5)              1           8          7        0.51        0.09
    MBS 436                41          47          6        0.70        0.24

    MBS 439                67          71          4        0.46        0.15
    MBS 439                74         159         85        0.70        0.19

    MBS 441(6)              6          61         55        0.57        0.16
    MBS 441                69          88         19        0.65        0.18
    MBS 441               116         120          4        0.54        0.20

    MBS 442(7)              0           5          5        0.66        0.15
    MBS 442                12          27         15        0.56        0.10

    MBS 445                43          75         32        0.57        0.17

    MBS 449               154         158          4        0.47        0.14
    MBS 449               169         173          4        0.41        0.15
    MBS 449               177         194         17        0.55        0.14
    MBS 449               198         205          7        0.62        0.19
    MBS 449               226         242         16        0.43        0.09
    MBS 449            303.85       305.3       1.45        7.99        0.24

    -------------------------------------------------------------------------
      All chemical analyses were completed by ALS Chemex, Vancouver, Canada.
       (4) Oxidised intersection to 14m, (5) Oxidised intersection to 10m
      (6) Oxidised intersection to 10m, (7) Oxidised intersection to 10m
         (8) The Company estimates that the true widths are 75% to 80%
       of the drilling intersections reported as downhole widths in the
                                 table above


                  Attachment 2: Drill hole collar locations

    -------------------------------------------------------------------------
                                Survey                        Hole      Azi-
    Hole ID      Hole type       type  Easting Northing  RL  Depth  Dip muth
    -------------------------------------------------------------------------
    MBS 432  Southern Extension   TS(9) 423160  8429750  132   116  -60  270
    MBS 435  Southern Extension   TS    423200  8429750  131 140.5  -60  270
    MBS 436  Southern Extension   TS    423120  8429700  134   109  -60  270
    MBS 439  Southern Extension   TS    423225  8429790  133   228  -60  180
    MBS 441  Southern Extension   TS    423175  8429750  133   193  -60  180
    MBS 442  Southern Extension   TS    423125  8429700  133    98  -60  180
    MBS 445  Southern Extension   TS    423225  8429750  133   175  -60  180
    MBS 449  Southern Extension   TS    423225  8429870  133 576.7  -60  180
    -------------------------------------------------------------------------
                     (9) TS - Total Station Survey Tool
    





For further information:

For further information: Mirabela Nickel Ltd, Registered Office: Ground
Floor, 8 Colin Street, West Perth, 6005 Telephone: +61 8 9324 1177, Facsimile:
+61 8 9324 2171, Email: info@mirabela.com.au, ASX Code: MBN, TSX Code: MNB,
www.mirabela.com.au

Organization Profile

Mirabela Nickel Ltd.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890