NEOMETALS LTD ASX & MEDIA ANNOUNCEMENT
Exploration at Forrestania
16 November 2015
Joint venture partner Neometals Ltd (ASX:NMT) approves greenfields nickel sulphide exploration program at the Forrestania Nickel Project.
Leading edge technology developed by consultants Richard Stuart (geophysicist) and Gordon Kelly (geochemist) to confirm potential for Flying Fox-style mines within Stormbreaker prospect.
Stormbreaker prospect located ~7km along strike to the north of the Flying Fox nickel mine and is hosted within the same favourable western ultramafic komatiite unit.
Hannans holds a 16-20% interest free-carried through to a Decision to Mine in certain permits at Forrestania.
Hannans Reward Ltd (ASX:HNR) is pleased to advise that joint venture partner Neometals Ltd (ASX:NMT) has recently approved a greenfields nickel sulphide exploration program at their Forrestania Nickel Project located 7km north of the Flying Fox nickel sulphide mine and 150km south of Southern Cross in the Goldfields region of Western Australia (refer Location Plan on page 2).
The program was designed by Neometals' consultants Richard Stuart (geophysicist) and Gordon Kelly (geochemist); each of whom have in excess of 45 years' experience exploring for nickel sulphide mineralisation. Both geoscientists have considerable experience with Western Mining Corporation and more recently, with Western Areas in the Forrestania and other greenstone belts in Western Australia. Messrs Stuart and Kelly have developed a proprietary technology they will employ at Forrestania in an attempt to identify the potential for further Flying Fox-style mines within the Stormbreaker prospect.
Neometals have now completed an extensive review of historic exploration databases at Forrestania and the planned exploration builds on previous explorers' activities within the greenstone belt. The aim of the exploration program is to identify geochemical base metal and fertility indicator element anomalies. This information will then be integrated with results of a ground based geophysical survey (IP) over target areas. Coincident geochemical and geophysical targets will be tested with diamond drilling in 2016.
Hannans shareholders remain exposed to exploration activities in this world class nickel sulphide belt without the requirement to fund exploration activities. Neometals holds on trust for Hannans a 16- 20% interest free-carried through to a Decision to Mine in certain permits at Forrestania.
For further information please contact:
Damian Hicks Managing Director
+61 419 9300 087 (M)
damianh@hannansreward.com (E)
Amanda Scott Exploration Manager
+46 703 221 497 (M)
amanda@hannansreward.com (E)
Location Plan: Neometals Forrestania Nickel Project located 150km south of Southern Cross, in the Goldfields region of Western Australia.
About Hannans Reward Ltd
Hannans Reward Ltd (ASX:HNR) is an exploration company with a focus on copper, gold, nickel, PGE and iron. Hannans has JORC compliant copper, gold and iron resources in Sweden, a major Ni-Cu-PGE project in Sweden and a free-carried interest in a nickel project in Australia. Since listing on the Australian Securities Exchange in 2003 Hannans has signed agreements with Vale Inco, Rio Tinto, Anglo American, Boliden, Warwick Resources, Cullen Resources, Azure Minerals, Neometals, Tasman Metals and Grängesberg Iron. Shareholders at various times since listing have included Rio Tinto, Anglo American, OM Holdings, Craton Capital and BlackRock. For more information please visit www.hannansreward.com.
Competent Persons Statements
The information in this document that relates to exploration results is based on information compiled by Amanda Scott, a Competent Person who is a Member of the Australian Institute of Mining and Metallurgy (Membership No.990895). Amanda Scott is a full-time employee of Hannans Reward Ltd. Amanda Scott has sufficient experience, which is relevant to the style of mineralisation and types of deposits under consideration and to the activity which has been undertaken to qualify as a Competent Person as defined in the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code). Amanda Scott consents to the inclusion in the report of the matters based on her information in the form and context in which it appears.
|
distributed by
|
