Global Nickel Investments NL Ground EM Survey Update At Mt Cornell And Mt Venn Projects

04.05.2011  |  ABN Newswire

10:24 AEST May 4, 2011 ABN Newswire (C) 2004-2011 Asia Business News PL. All Rights Reserved.

Sydney, Australia (ABN Newswire) - Global Nickel Investments NL (ASX: GNI) is pleased to announce that a follow-up ground based, fixed loop EM (FLTEM) programme at the Mt Cornell project (E38/1540, E38/1850) in Western Australia has now been completed. A total of 10 FLTEM surveys were completed by Outer Rim Exploration which consisted of 57 survey lines and 36.7 line kms of coverage (785 stations). FLTEM surveying is also currently in progress at the nearby Mt Venn Project (E38/1000).

The FLTEM survey results received by the company have further refined the 8 airborne VTEM anomalies that were identified in December 2010 at Mt Cornell. The ground based FLTEM survey results have clearly confirmed the presence of strong, legitimate bedrock conductors and enabled constrained modelling of both the depth/location/orientation of each bedrock source and also the true strength or conductance of each target. The overall results were extremely encouraging and revealed a number of strong bedrock conductors consistent with the presence of massive sulphides, namely eastern targets JRVA22, 23, 24 and 25 which had modelled conductance levels of >10000S. Bedrock conductors defined at the JRVA29 and JRVA30 targets appear to show good correlation with anomalous copper in historic soil and auger sampling.

FLTEM surveying at the Mt Venn project was anticipated to have been completed by the end of February/March, however due to heavy rainfall in the region, the programme had to be delayed up until recently. FLTEM surveying at Mt Venn is aimed at providing further refinement to the 5 priority VTEM anomalies that were delineated in December 2010. Additional VTEM anomalies defined south of MVVA6 have previously been refined and drill tested by Helix Resources (ASX: HLX). Preliminary data received to date from the MVV5 target has provided encouraging results and defined several bedrock conductors of moderate strength.

For the complete Global Nickel Investments announcement including figures, please refer to the following link:
http://www.abnnewswire.net/media/en/docs/540085.pdf


About Global Nickel Investments NL:

Global Nickel Investments NL (ASX: GNI) is a Sydney-based exploration and investment company that manages mineral and mining assets in Australia and New Zealand.

The Company's is currently developing the Jutson Rocks Gold and Nickel project and the Mt Cornell Gold and Nickel project in Western Australia. The Company is also developing the Round Hill Gold Mine and the Longwoods Tops Igneous Complex Platinum project in New Zealand.



Contact:

Andrew Mortimer
Executive Director
Global Nickel Investments NL
Mobile: +61-433-894-923
Email: andrew.mortimer@globalnickel.com.au