Metals Australia (ASX:MLS) Strikes “Substantial” Multi-Element Intersection At Manindi West, WA

Junior explorer Metals Australia (MLS) has revealed a “substantial” vanadium, iron and titanium intersection from a recently-completed drill hole at its Manindi project in WA.

The result comes from the first drill hole completed in a three-kilometre long magnetic mafic intrusive unit in the previously un-drilled Manindi West zone of the project.

Metals Australia said the hole produced an overall intersection of 82 metres at 0.3 per cent vanadium, 27.5 per cent iron, and over 2 per cent titanium from 48 metres downhole. This included a 52-metre zone at 0.35 per cent vanadium, 31.5 per cent iron, and over 2 per cent titanium.

What’s more, the hole also returned a 17-metre zone of massive to disseminated sulphide mineralisation associated with nickel, copper and cobalt.

The result was a six-metre intersection at 0.08 per cent nickel, 0.11 per cent copper, and 506 parts per million (ppm) cobalt, which included a two-metre zone at 0.13 per cent nickel, 0.08 per cent copper, and 779 ppm cobalt.

Chairman Mike Scivolo said this drill hole was a “major breakthrough” for the company.

“In addition to vanadium, the hole intersected significant nickel-copper-cobalt mineralisation in sulphide layers, which only adds to the potential of this three-kilometre by one-kilometre magnetic unit that has been drill tested for the first time,” Mr Scivolo said.

“The company will now fast-track follow-up testing — utilising diamond drilling — to determine the extent of the vanadium mineralisation as well as target higher grade nickel-copper cobalt sulphide zones.”

He added that the planned diamond drilling would also follow up on recent lithium pegmatite results and further test for extensions of Manindi’s zinc resources.

The company said it would complete downhole electromagnetic (DHEM) work in these new holes to detect both in-hole and off-hole conductors for further drilling.

Shares in Metals Australia last traded at 6.8 cents on Wednesday, June 8.

www.ferroalloynet.com