LONDON (ShareCast) - (ShareCast News) - Strategic Minerals, the multi-minerals production, exploration and development company, said it had completed the maiden drill at its Hanns Camp project in Australia with encouraging prospects for nickel and possibly platinum.
The company added that it had also received the first assays from the programme relating to the weathered material drilled as part of the Reverse Circulation (RC) pre-collars. These included anomalous nickel and platinum intervals in holes HC001 and HC003.

Strategic Minerals managing director John Peters said the lab results received were "very encouraging as they have identified traces of the targeted nickel sulphide as well as the possibility of a commercial platinum deposit".

"The company now awaits the completion of the technical team's full review before informing the market on its assessment as to the likely nickel sulphide accumulations and its plans to further clarify the mineralisation of the tenements," Peters said.

Initial analysis of the programme meant the company was confident that Hanns Camp was "positioned in the favourable geological setting for typical West Australian Yilgarn nickel sulphide deposits".

"Initial analysis of the drilling results indicate that HC001 and HC003 show the greatest promise with both holes intercepting low levels of sulphides, including Pentlandite, in the diamond drilling section. Additionally, HC001 and HC003 show the most anomalous results within the RC tested weathered zone," the company said.

Despite platinum not being the company's initial focus for Hanns Camp, the results were significant enough that they will be further investigated along with nickel, strategic said.

The diamond drill core is in the process of being sampled, and will be submitted for analysis at Bureau Veritas laboratories in Perth. Results of the analysis are expected during July.

Hanns Camp forms part the Laverton Project, of which Strategic Minerals recently secured an interest via its agreement to acquire up to 50% of Central Australian Rare Earths.

It is located 250km north-east of the city of Kalgoorlie-Boulder, 12km north-east of the town of Laverton in the North-Eastern Goldfields region of Western Australia.

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