Thursday - July 6: (RWE Australian Business News) - Pelican...

Thursday - July 6: (RWE Australian Business News) -
Pelican Resources Ltd (ASX code: PEL) today reported on progress at the
Romblon project on the west coast of Sibuyan Island in the Philippines,
with the latest diamond core-drilling program within the project
identifying strong lateritic nickel mineralisation.
Latest drilling was focused on the Binaya-An Small-Scale Mining
Permit (SSMP), which is within the Romblon project area.
A total of 36 vertical diamond core holes have been completed in
the laterites from surface down to fresh bedrock on the SSMP, covering a
ridge spur extending south of the main Binaya-An resource.
The drilling has confirmed the mineralisation extends from
surface down to depths of up to 15 metres in the saprolite zone below an
iron-rich limonite cap of one to four metres.
Drilling over a grid of 400 metres by 300 metres with drill
spacings at 50-metre centres is still in progress.
Assay results were returned with a peak value of 7.26 per cent
nickel over 0.9 metres from 2 metres.
Significant results include:
* BNY 13 - 5.95m at 2.68% Ni from surface
and 0.9m at 7.26% Ni from 2m;
* BNY 14 - 11m at 1.55% Ni from surface;
* BNY 23 - 13.6m at 1.53% Ni from 2.3m; and
* BNY 24 - 14.6m at 1.59% Ni from surface.