Comet Vale - Nickel
In addition to gold, the Comet Vale project has over 4 km of the Walter Williams Formation (purple), the source bedrock for the large high grade Goongarrie nickel laterite deposits, along strike to the south and the Highway prospect to the north. The ultramafic rocks are overlain by a well preserved lateritic profile, but there has been no previous exploration specifically for lateritic Ni. One intersection of 5m of 2.2% Ni in an RC drill hole is a clear indication of the potential for high-grade lateritic Ni within Reed Resource's tenements.
NEWS FLOW...
November 24, 2006
Comet Vale Nickel Laterite JV Commences
The Directors are pleased to announce the commencement of the Comet Vale Nickel Laterite Joint Venture with Heron Resources Limited. Heron is required to sole-fund exploration expenditure of at least $300,000 to earn 70% interest in the nickel/cobalt laterites within three years from the grant of M29/186. More...
October 20, 2005
First Quarter Activities Report
During the September quarter, first pass AC/RC drilling was conducted over 1km of the prospective Walter Williams Formation, which is the same stratigraphic unit that hosts the Goongarrie, Cawse, and Siberia deposits. Grades and widths indicate the potential for a resource similar in style to Heron’s Goongarrie and Highway deposits.. More...
