EXPLORATION by Asian Mineral Resources’ (AMR) subsidiary Ban Phuc Nickel Mines at and around the high-grade nickel mine at Ban Phuc in northern Vietnam has identified multiple new high-grade nickel targets. Fourteen new high-priority targets have been identified to date, taking the regional inventory for nickel and copper targets to 28.
Recent exploration has confirmed continuation of massive sulphide mineralization down dip at Suoi Phang. Drilling results here include 1.79 metres @ 1.73% nickel.
Detailed structural interpretation and study of the geological history of Ban Phuc has led to a new, high-priority mine extension target at Ban Phuc Deep. Follow-up drilling is planned at this target later this month with three holes initially planned, including down-hole EM. Subject to results of drilling and down-hole geophysics, a further five holes for a total of 1600 metres are planned.
The exploration has led to greatly increased understanding of geology and the Ban Phuc feeder structure at depth with a new brownfields targeting model developed.
AMR’s president and CEO Evan Spencer says, “The discovery of new high-grade targets close to our mining and processing facility is extremely encouraging. We are particularly pleased with the confirmation of massive sulphide mineralization at Suoi Phang.
“As recent operational announcements confirmed, the last 12 months of production have exceeded expectations and we now have the cash-generating platform to aggressively pursue the growth potential of our 49.7sqkm exploration area.
“Vietnam benefits from low exploration costs and very strong community support. With our increasingly detailed understanding of the geology, we are excited about the region’s potential to host a world-class magmatic nickel sulphide camp.”
AMR has commenced a staged exploration plan aimed to test high-priority targets; further refine near mine and regional targets; and continue to search for new targets, as well as to continually build the geological understanding of the region. Highest priority targets are Ban Phuc Deep and prospects along the Ban Khoa trend, which is a grouping of targets extending for more than 2.8km of strike to the east of Ban Phuc. Occurrences along the Ban Khoa trend bear many similarities to Ban Phuc and it is interpreted to be an easterly continuation of the same geology, disrupted by a NW trending regional scale fault that has offset the package to the north.