Sienna Resources Intersects Massive Sulphide Mineralization on its Slättberg Nickel-Copper-Cobalt Project Drill Program in S...
18 Octubre 2019 - 2:05AM
Sienna Resources (
SIE—TSX.v)
(
A1XCQ0 –FSE) (
SNNAF—OTCBB) is
pleased to announce the completion of its drill program on its
flagship nickel, copper and cobalt Slättberg Project in Sweden. All
samples will be shipped next week to ALS Global with the expected
assay results back in 4-6 weeks.
In 2018, Sienna intersected 13.0 meters
averaging 0.32% nickel and 0.28% copper and 0.034% cobalt and 0.32
ppm platinum + palladium in drill hole SIE-18-005, as reported in
Sienna’s News Release dated May 17, 2018. As a follow up to hole
18-005, Sienna drilled hole SIE-19-001, which represents a 50 meter
step out to the west and down-dip of the mineralization intersected
in hole SIE-18-005. SIE-19-001 was drilled to a depth of 259.5
meters.
Based upon a visual inspection by the head
geologist at the drill, drill hole SIE-19-001 intersected bodies of
semi-massive to massive sulfide mineralization and breccias over a
4.625 meter interval from 168-172.625 meters, with additional
masses of sulfide mineralization and breccia that persisted to a
depth of 195 meters1. The sulfide mineralization intersected in
19-001 was also associated with and hosted by a swarm of diabase
(mafic) dikes, which persisted to the end of the hole at 259.5
meters. The density and thickness of the mafic dikes seen in 19-001
are far greater than seen in other drill holes in the area and in
surface exposures.
Further, the presence of visible sulfide
mineralization distributed over a 27 meter interval in the drill
hole2 and the intensity of the dike swarm may suggest that Sienna
is tapping into a “feeder zone” for the system. Assays and
analytical results for drill hole SIE-19-001 are pending, and
further drilling to deeper levels may be needed to determine the
geometries and tenor of mineralization in the area, and to test the
“feeder zone” concept.
Jason Gigliotti, President of Sienna Resources,
states, “We are very pleased with how the drill program has gone.
We are excited to see what the assays come in at. We feel that
nickel will be one of the best performing metals in 2020. With the
2 year planned ban of exports from Indonesia spurring a tightening
in supply at a time with larger demand. This historic demand is
growing as new uses for nickel such as electric batteries gains
momentum on a global scale. Nickel inventories are near 40 year
lows as stockpiling has been occurring with anticipation of tighter
supplies and potential trade wars persist. Indonesia produced
approximately 16% of global nickel mine production in 2017 and
approximately 24% in 20183. Taking that production out of the
market could have a significant impact on Nickel prices. As an
example Saudi Arabia produced about 12% of global oil output in
20184. Sienna plans to focus on nickel assets going forward as we
feel this will be the best place to be in the foreseeable
future.”
1 True width estimated at 55-65% of interval2
True width unknown, but estimated at 50-60% of interval3 USGS
Mineral Commodity Summaries of 20194 US Energy Information
Administration
The technical contents of this release were
approved by Greg Thomson, PGeo, a qualified person as defined by
National Instrument 43-101.
As a cautionary note, the visuals seen in the
core need to be verified as to grade and length by the assays from
ALS Global.
If you would like to be added to Sienna’s email
list please email info@siennaresources.com for information or join
our twitter account at @SiennaResources.
Contact InformationTel: 1.604.646.6900Fax:
1.604.689.1733www.siennaresources.cominfo@siennaresources.com
“Jason Gigliotti”President, DirectorSienna
Resources Inc.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this press release.
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