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RAMELIUS RESOURCES LIMITED Capital/Financing Update 2004
65718_rns_2004-04-05_3ecbdd31-9239-4de9-92fa-5c4011134084.pdf
Capital/Financing Update
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For Immediate Release
Tuesday 6th April 2004
General Manager The Company Announcements Office Australian Stock Exchange Limited PO Box H224 Australia Square Sydney NSW 1215
RAMELIUS TO TEST POTENTIAL NICKEL HOST ZONE AT HILDITCH
Deeper drilling of a nickel target will be undertaken next month by Ramelius Resources Limited after the Company identified a possible host zone on its Hilditch project in Western Australia.
The Company announced today that it plans to next month drill up to 1,200 metres of Rotary Air Blast (RAB) and percussion drilling on the Hilditch tenement following results from a justcompleted first-pass RAB drilling program.
Conducted in March, this program sought to provide an initial assessment of the geology and geochemistry in the vicinity of three electromagnetic conductors in the southwestern corner of the Hilditch tenements in the Eastern Goldfields region.
It located a tremolitic ultramafic unit within a felsic sequence lying adjacent to the northern conductor which lies within bedrock at a depth of 115 metres.
"The new drill program in May will now test the geometry of the identified ultramafic unit to depths of about 90 metres and in particular, its relationship to the northern EM (Electromagnetic) anomaly" Ramelius' Managing Director, Mr Joe Houldsworth, said today.
Mr Houldsworth said the source of the central conductor, located 400 metres to the south of the northern conductor, remained unresolved and further drilling is also planned in this vicinity.
It appeared, however, that the southern conductor and a weak conductor 200 metres further away to the east and adjacent to the magnetic ultramafic were due to chert and black shales. No further drilling was planned for these two southern zones.
MEDIA CONTACT:
| Joe Houldsworth | Ramelius Resources | 08 9250 6644 |
|---|---|---|
| Kevin Skinner | Field Public Relations | 08 8234 9555 / 0414 822 631 |
| Mark Lindh | Ramelius - Investor Relations | 0414 551 361 |
issued through FIELD PUBLIC RELATIONS PTY LTD ABN 74 008 222 311 231 South Road, MILE END SA 5031 Ph: 08 8234 9555 Fax: 08 8234 9566 [email protected]