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MENAFN - ProactiveInvestors - Australia - 28/11/2012

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(MENAFN - ProactiveInvestors - Australia) Sheffield Resources (ASX: SFX) has identified four high order anomalies from first pass airborne electromagnetic survey at its Red Bull project in the Fraser Range nickel province in Western Australia.

The Red Bull project is located 20 kilometres from the recent Nova nickel-copper discovery by Sirius Resources (ASX:SIR).

Three of the four anomalies show correlation with magnetic anomalies.

The survey also defined 10 second order VTEM anomalies though this will require further detailed assessment of the data and infill results to rank them accordingly.

Infill VTEM surveying is now underway to reduce the line spacing over the anomalies to 100 metres and provide the company with immediate targets for follow up work.

The VTEM survey will target prospective mafic and ultramafic sequences of the Fraser Complex beneath shallow transported cover over an area of 144 square kilometres with Sheffield identifying an 8 kilometre long nickel-copper-cobalt anomalous trend from a review of historic aircore drilling results.

Within this anomalous zone, nickel values in the weathered bedrock commonly exceed 0.1% over widths of 190m to 280m, with maximum values of 0.34% nickel, 670 parts per million copper and 320ppm cobalt.

The airborne survey will potentially speed up Sheffield's exploration of nickel-copper sulphide mineralisation at Red Bull and processing of the data is likely to be completed by the first quarter of next year.

Red Bull covers 525 square kilometres with two exploration licences, the northernmost of which remains under application.

Sheffield has recently expanded its tenement holding in the Fraser Range nickel province to 608 square kilometres with a new tenement application - ELA28/2270 called "Kitchener".

The Kitchener tenement is located 160 kilometres northeast of Nova and overlies part of the Fraser Complex.

 






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