NiPlats Australia Identifies Mineralisation Targets At Speewah (Tues, 12th Oct) Ocean Comment: While this is an important part of the exploration programme and in the definition and understanding of geological model, the gravity survey will be best understood along with the IP and SAM survey that will also be undertaken over the next few weeks. Importantly the take home message is that: The gravity survey shows a relationship between the gravity features and zones of hydrothermal alteration that are associated with copper/gold/silver and fluorite/barite/lead mineralisation ? basically this is confirming where/what the underlying structures are that were thought to be controlling the surface samples. From the image it is clear that the blue areas highlight the Central and King fault structures (See image below). Further analysis is to be undertaken: These initial results will assist the current drill programme to define targets. Additionally NIP is undertaking an Induced Polarisation (IP) Survey and a Sub Audio Magnetics (SAM) survey over the Eiffel, Gray?s and Hayden prospects (which previously returned the very high Cu surface samples) which will be interpreted together with the gravity survey and provide a greater understanding of the overall geological model. The geophysical surveys will also be very useful in planning and defining further drilling and exploration work. Upcoming News Flow over the next 2 weeks: IP and SAM survey results and interpretation; and the RC and diamond drilling results.
NIP Price at posting:
39.0¢ Sentiment: LT Buy Disclosure: Held
