announcement out - looks good, page-11

Nickel Australia finds Splinter gold


Sarah Belfield


Wednesday, November 10, 2004
NICKEL Australia is likely to follow-up a strong gold anomaly at its Splinter gold project north east of Esperance in Western Australia with aircore drilling in the first quarter of 2005.

In the interim the company plans infill gravity work underway and a detailed low-level aeromagnetic survey �Escheduled for late November.

The gold anomaly, which has an arcuate shape, measures about 3km long and 1km wide, and overlies the northern edge of a copper anomaly that measures 2.5km by 800m, the company said.

According to Nickel Australia, a pronounced gravity high also underlies the copper anomaly, which, the company said, was an indication the region could contain iron-oxide-copper-gold mineralisation.

The anomaly was interpreted from recent calcrete sampling results (on a 400m by 400m pattern) that followed up previous, wider spaced geochemical sampling.

Other zones of anomalous gold exist at Splinter as well, the company said. While not fully delineated, they remain open along-strike.

The previous sampling outlined a gold-in-calcrete anomaly 8.5km long and 5.5km wide at the intersection of major structural trends.

Splinter is considered by Nickel Australia to be highly prospective for shear-hosted gold deposits.

The company, which has the Norseman, Bounty, Maggie Hays South, Davyhurst, and Beete projects in its portfolio, said the project was a longer-term exploration target.

The Splinter tenements are located 120km northeast of Esperance and cover a total area of 840sq.km.

Company shares closed up 1c at 17.5c.

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