Global Nickel Investments NL (ASX:GNI) Update On Mt Cornell And Mt Venn Projects

Global Nickel Investments NL (ASX:GNI) is pleased to report that follow up of the all the helicopter borne electromagnetic anomalies in the Mt Cornell, Mt Cumming and Mt Venn areas of the Jutson Rocks Project by ground electromagnetics has been completed. As previously reported, heavy rainfall in the district has caused a delay of almost two months to complete the ground geophysical follow up.

VTEM Target Assessment

Initial reconnaissance over all of the Mt Venn VTEM anomalies has been undertaken with a view to prioritising drilling and to gain some idea of the potential source of the anomaly. Several anomalies are spatially associated with siliceous ironstones and fault breccias developed along apparent structures within the Mt Venn Gabbro Complex.

At two locations, MVVA6 and MVVA7, secondary copper mineralisation was noted associated with the ironstone exposures and in the vicinity of MVVA7, secondary copper mineralisation in outcrop is developed as disseminated mineralisation along the base of a differentiated gabbro intrusion in close proximity to the ironstones described above.

Other anomalies in the Mt Venn area locate along the margins of the gabbro complex with no obvious source of the anomaly detected on the surface or are covered by colluvium and alluvium. Following this field assessment, in conjunction with the geophysicist, the anomalies are now being refined and final drilling design is being completed.

Four of the eight VTEM anomalies located within the Mt Cornell tenements have been assessed. Three of these locate on gabbro and pyroxenite, one of which is spatially associated with a copper in soil anomaly located within the keel of plunging syncline in gabbro. The fourth anomaly is located in a sand covered area. Again these anomalies are being refined with the input of the geophysicist to optimise drill hole design. Once clearance processes are complete, drilling is expected to commence in mid to late July.

Geochemical Programmes

In addition to the drilling targets generated by the geophysical survey, three geochemical programmes have been planned to commence within three weeks. Two conventional soil sampling programmes involving approximately 300 samples will extend and infill two significant copper in soil anomalies in the Mt Cornell area. The soil grids will cover areas of approximately 2.5 x 1.5km on 400m x 100m sample spacing. The soil anomalies are supported by auger and vacuum drilling anomalies over the same area and have not been tested by drilling.

Detailed analysis of geochemical data collected by Global Nickel and previous explorers has highlighted a very pronounced gold-anomalous trend trending approximately N-S through the centre of the Greenstone Belt and co-incident with a zone of structural complexity. This zone is traceable for over 30km as discrete anomalies variously determined from soil, auger and vacuum programmes separated by areas of either alluvium or areas of no sampling. It is significant that all known gold occurrences plot within this area. This "gold corridor" is considered an exciting target for detailed exploration.

As a first stage in better defining this zone a 16.5km2 area in the central part of the Jutson Rocks Greenstone Belt will be sampled using the BLEG (Bulk Leach Extractable Gold) soil technique. This initial area is the most structurally complex of the zone and contains a number of historic gold occurrences.

Depending on the results returned from the geochemical programmes, new drilling targets are expected to be returned from the copper and gold geochemical programmes. Results from these programmes are expected in early July.

For the complete Global Nickel Investments announcement including figures, please refer to the following link:
http://www.abnnewswire.net/media/en/docs/67482-ASX-GNI-541816.pdf


About Zinc of Ireland NL

Zinc of Ireland NL (ASX:ZMI), formerly Global Metals Exploration NL, is a mineral exploration company. The Company's principal activities include mineral exploration and project evaluation. The Company's projects include Kildare Project, which is located in County Kildare, approximately 40 kilometers south-west of Dublin; Ballinasloe Project, which is located in County Galway, over 50 kilometers east of Galway/Carnmore on the Glentaun-Cloonark Regional Structure; Navan Project, which is located approximately 15 kilometers south-east of the Navan Tara mine; Sligo Project, which is located over four kilometers north of Sligo in the western province of Connacht; Monaghan Project, which is located approximately 20 kilometers south-east of Monaghan in the eastern portion of the Longford-Down Inlier; Cork Project, which is located over 15 kilometers south-west of Cork, and Galway Project, which is located approximately 25 kilometers north-west of Galway in the Neoproterozoic Dalradian Supergroup.

 

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