Capital Mining Limited: Quarterly Activities Report ending 30 September 2017
01.12.2017 | ABN Newswire
Perth, Australia (ABN Newswire) - Capital Mining Ltd. (ASX:CMY) ("Capital" or "the Company") is pleased to present its Quarterly Activities Report for the period ending 30 September 2017.Capital Mining has a portfolio of gold, base metal and lithium exploration projects with two project areas in NSW, a larger spread of lithium projects, one nickel sulphide project in Western Australia and one lithium project in the Republic of Ireland.
During the September Quarter, a drilling program of 7 percussion holes was completed at the Company's Scotia nickel-cobalt project located north of Kalgoorlie in Western Australia with the drill samples being submitted for assaying.
Results of various soil and rock chip samples for several of its lithium, tantalum projects were also reviewed.
Drill hole rehabilitation and planning for some down hole geophysics at the Company's NSW projects was undertaken including the commencement of a review of past drilling. Other gold projects for potential acquisition were also reviewed and considered by the Company.
KEY HIGHLIGHTS
- Scotia Nickel and Cobalt Project reverse circulation percussion drilling program of 7 holes for 1,224 metres has been completed
- Conducted first pass exploration of 12 potential licenses with some returning significantly elevated results within the LCT field
- The Mayfield and Chakola projects are being reviewed for their shallow oxide gold potential
SCOTIA NICKEL AND COBALT PROJECT (E29/897; CAPITAL MINING 100%)
Capital Mining acquired Scotia project exploration license (see Figure 1 in link below) with the aim of drilling for nickel and any associated cobalt along the basal contact zone of the Scotia komatiite at Ringlock and Red Dam. The project area is 20 km north west along strike of the Silver Swan and Black Swan nickel mines.
A reverse circulation percussion drilling program of 7 holes (see Figure 2 in link below) for 1,224 metres was completed during the quarter at Capital Mining's Scotia project, 65 km north north-west of Kalgoorlie WA with the following results.
STRC002: 8m@0.98% Ni and 455ppm Co from 32m down-hole; STRC005: 6m @ 0.81% Ni and 369ppm Co from 228m down-hole (see Figure 3 in link below). Table 1 below presents the summary from drilling and table 2 below presents the results from the significant intersections.
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About Capital Mining Limited:
Capital Mining Ltd. (ASX:CMY) is an active ASX listed junior mineral resources company focused on the acquisition and exploration of key, demand driven commodities. Its project portfolio includes lithium prospective assets in Western Australia and the Republic of Ireland, plus gold and base metals projects in New South Wales.
Contact:
Capital Mining Ltd.
T: +61-8-9481-0389
F: +61-8-9463-6103
www.capitalmining.com.au