The results of HNDD001 diamond confirmed the high grade ni-Cu-PGE sulfide ore with thick layer, and the massive sulfide ore sections included: 4.09 meters at 119.91 meters, 2.40% Ni, 0.61% Cu, 0.55 g/ T Pd & 0.22 g/ T Pt.
The diamond drilling project at Horn has been successfully completed, confirming excellent continuity of high grade nickel-copper sulphide deposits in a 500-metre strike, and that the mineralisation distribution is relatively low (between 100 and 150 metres above the surface).
The second borehole, HNDD002, successfully discovered 7.2 meters of massive nickel sulfide and copper deposits at a depth of 143.0 meters.
Bore hole HNDD003 was used to test DHEM conductors other than those known to be mineralized, and a 1.9m nickel sulfide to copper deposit was found at 134.55m, including 0.8m of massive sulfide deposits.
The company has cataloged these sections and samples have been sent to the laboratory, awaiting test results.
(Figure 1: Photo of Bore Hole HNDD001)
Aidan Platel, Managing Director of Orak, commented:
"The results confirm our observation that the mineralized compounds in the Horn exploration area include high grade lumpy nickel sulfide, which is also rich in copper and PGE.
The mineralization of the sulfide is relatively uniform and consistent, which bodes well for our upcoming tests and future exploration.
"The first diamond drilling program has been successfully confirmed with thick continuous block nickel sulfide mineralization on the strike path up to 500m below the surface.
Our new understanding of the Horn tectonics holds the potential for further discovery of nickel sulfide mineralization, and we look forward to THE DHEM results and upcoming sample tests to finalize our geological model and complete our drilling program at Horn early next year."
Orak shares were trading at A $0.16 today, with a market value of A $39.37 million.
