(MENAFN - ProactiveInvestors - Australia) Drake Resources (ASX: DRK) has identified a large geophysical target at its Granmuren nickel-copper discovery in central Sweden following the completion of a ground gravity survey.
The Granmuren target was generated from an airborne electromagnetic survey flown over Drake's 100% Tullsta licence in August 2011.
The target was identified from 3D magnetic and gravity models that suggest the presence of coincident, substantial bodies of rock that have the characteristics of additional nickel-copper mineralisation at depth.
Granmuren mineralisation comprises massive to disseminated sulphide mineralisation hosted by rocks classified as gabbros or norites.
The sulphides are primarily pyrrhotite, which are generally magnetic, making magnetic and gravity measurements useful as data to model the distributions of rocks which are anomalously magnetic and dense.
Drilling has also confirmed near surface mineralisation that is open along strike. Significant intersections include 16 metres at 0.32% nickel, 0.5% copper and 0.03% cobalt as well as 11.6 metres at 0.4% nickel, 0.51% copper and 0.04% cobalt.
Drake will carry out downhole electromagnetics to secure a picture of the size of any large mineralised body at depth when a crew is available.