Knight Resources (KNP-V) reported the final 11 holes from its 2007 drill program today from its West Raglan nickel project in Nunavik, Quebec.
The company drilled 18 holes totaling nearly 6,000 metres over the year with the latest intersections extending the high-grade mineralization discovered earlier this year.
Hole WR-07-142 returned a 7.3-metre grading 2.72% nickel at the Frontier South target.
Hole WR-07-141 intersected 4.5% nickel over 1.85 metres at the Seahawk target.
Knight has not stopped drilling. The company has winterized two rigs, and they remain on site for drilling in the New Year.
Knight holds 49% of the project with joint venture partner Anglo American’s (AAUK-Q, AAL-L) Canadian exploration arm.
The project is about 90 km west of Xstrata‘s (XSRAF-O, XTA-L) Raglan nickel mine, where reserves and resources total 28 million tonnes averaging 2.8% nickel and 0.8% copper.
Knight shares rose 15% today, or 4 to 30 each, on a trading volume of more than 197,000 shares.
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