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RAMELIUS RESOURCES LIMITED Capital/Financing Update 2005
65718_rns_2005-04-05_955d3fb9-9554-4eed-a1f3-bed297a027ba.pdf
Capital/Financing Update
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For Immediate Release 6 April, 2005
RAMELIUS STEPS UP HILDITCH NICKEL DRILLING
AFTER FURTHER STRONG RESULTS
Ramelius Resources Limited (ASX code: "RMS") is stepping up its nickel exploration program as "a matter of urgency" following strong drilling results that have further extended the potential of its Hilditch nickel discovery in Western Australia.
The Adelaide-based Ramelius also announced today that the latest results from Hilditch - south of Coolgardie - have also enhanced the prospectivity of its New Wattle nickel project to the south of Hilditch and presented the Company with "another exciting target".
"The results from our reverse circulation drilling program at Hilditch in February are highly encouraging," Ramelius' Managing Director, Mr Joe Houldsworth said today.
"Magmatic disseminated nickel sulphides have been intersected approximately 65 metres north of the drill hole that vielded massive nickel sulphides late last vear." Mr Houldsworth said.
It is even more encouraging to note that this latest mineralisation appears to be open along strike and at depth.
"Ramelius now intends as a matter of urgency, to carry out further deep reverse circulation drilling to the north of the latest discovery hole," he said.
The results from the drilling of Hole HRC041 in February returned two metres containing nickel bearing sulphides, at a depth of 74 to 76 metres, returning 1.1% nickel and 0.08% copper, including one metre of 1.3% nickel and 0.1% copper.
The drilling program of 11 holes was designed to test the extent of the mineralisation which had been earlier discovered, at drill hole HRC025 to the south, which returned 2.4% nickel and 0.3% copper at 73 to 75 metres.
Mr Houldsworth said the latest results had enhanced the company's view of its New Wattle prospect to the south of the Hilditch project.
"These latest Hilditch results increase the prospectivity of our New Wattle Dam tenement because it lies on what is now considered to be a fertile nickel belt." Mr Houldsworth said.
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]
"Its geochemistry is highly anomalous in nickel and copper and now presents Ramelius with another high potential target," he said.
With its increasing exploration effort and success, the Company has increased its staff with the recent appointment of Matthew Svensson as Project Geologist. Svensson has nine years experience in exploration for Gold and Base Metals in Archaean Greenstone Terrains.
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]
MEDIA CONTACT:
| Joe Houldsworth | Ramelius Resources | 08 9250 6644 / 0408 920 891 |
|---|---|---|
| Kevin Skinner | Field Public Relations 08 8234 9555 / 0414 822 631 | |
| Mark Lindh | 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]