While a subduction zone might be good for other metals - copper and zinc for example, it's not the right tectonic environment for nickel. All the best nickel deposits around the world are formed in rift environments. Any subduction zone under the Yilgarn most likely occurred well before the mafic-ultramafic intrusions were formed here.
What makes the Albany-Fraser so prospective for nickel is it's position off the margin of the old cratonic crust of the Yilgarn - such tectonic belts like the AF off old cratonic blocks like the Yilgarn is where you find over 90% of the worlds nickel sulphide of the type MRD are looking for in the AF - Noril'sk, Voiseys, Pechenga, Jinchuan, and the rest.
So, the AF is the right tectonic location, and now Nova is known we know it actually has nickel in enough quantity to make mines.
Now at Mt Ridley, we have the best indication yet that the nickel seen in all that disseminated sulphide drilled in the other holes may have undergone the right concentration processes to form a pocket of massive sulphide just off MRDD016. If it pans out and is massive sulphide, then as I said, the door is now open for similar concentration processes to have made more massive sulphide elsewhere within the Target 19 area, or even elsewhere on the tenements since it appears from the new gravity data that there might be much more mafic-ultramafic intrusions in the project near surface. Make it in one place, no reason why it couldn't be made in others, and much more of it. We would know the process of making massive sulphide has occurred at least once - a big step. If it's not massive sulphide - that's still just one possibility among a few - then it's head scratching time and we see what the Wolf's review recommends.
A good explorations story in my books. A lot of work still to be done and no guarantees that anything is there to be found, but I'm going to ride it out for now and see what develops.
GLTAH and DYOR. This is not meant as advice, just my personal thoughts on what I personally will do - your circumstances may be different to mine, so make up your own minds on what works for you.
MRD Price at posting:
1.2¢ Sentiment: Hold Disclosure: Held
(20min delay)
