2.3Mt @ 0.75% Ni containing 17,000t Ni (above 0.40% Ni)
1.4Mt @ 0.87% Ni containing 12,000t Ni (above 0.70% Ni)
SYDNEY, March 13 /CNW/ - Emerging Australian nickel miner, Allegiance
Mining NL (ASX code: AGM ) has estimated resources for a portion of the East
Avebury and Saxon deposits which were recently discovered one kilometre east
of the Avebury Nickel Mine located near Zeehan, West Coast Tasmania. The
deposit styles are the same as the main Avebury Deposit and are open to the
east, west and down-dip.
A 200 metre strike length of the East Avebury and Saxon deposits has been
drilled on a 50 metre by 100 metre pattern. Preliminary Inferred Resource
estimates for the three lenses of mineralisation delineated so far, East
Avebury North, East Avebury South and Saxon contain up to 17,000 tonnes of
nickel, depending on the minimum cut-off grade applied to the estimates.
Drilling is ongoing and significant additions are anticipated. The East
Avebury and Saxon deposits are accessible to existing infrastructure and the
significant widths of nickel sulphide mineralisation suggest the deposits are
amenable to the bulk mining methods employed in the Avebury Mine.
Mr Howland-Rose, Chairman of Allegiance said "These new resources
highlight the prospectivity of the Avebury nickel province and demonstrates
that exploration has a high likelihood of significantly enhancing the
longevity of the Avebury Nickel Project. We look forward to further extensions
to these resources as the company continues to evaluate the easterly
extensions to the Avebury ore systems. We also expect to discover zones of
higher grade mineralisation as the resources are delineated in more detail.
As reported in February, Allegiance has also discovered the Bison nickel
deposit immediately southeast of the Avebury mine and has other shallow zones
of mineralisation as exploration targets over the coming year as the Avebury
Nickel Project moves closer to completion in the 4th quarter 2007
A full copy of this announcement is available on the Allegiance website.
Electronic copies of this and other reports are available on our website
To receive email notifications of future releases, subscribe by email to
For further information:
For further information: Tony Howland-Rose, Chairman: +61 (0) 29397 7777
or +61 (0)418 972 112