Jaguar Nickel firms up Sechol nickel deposits

Jaguar Nickel (JNI-T) has firmed up the nickel-cobalt resource at its Sechol project in Guatemala.

In the past year, 725 holes totalling 9,458 metres have tested the El Inicio, El Segundo and Rio Negro deposits.

Highlights from the latest 268 vertical holes, follow: of the 60 holes drilled on the El Inicio grid, 59 hit grades greater than 1% nickel over widths of 2.7-33.7 metres (48 of these intervals graded at least 1.5% nickel). In addition all of these holes cut .01-.13% cobalt. Four holes cut at least 2% nickel, specifically, 2-2.4% nickel over widths of 6.4-15.1 metres.

El Segundo was tested by 115 holes, highlighted by three holes which cut more than 1.9% nickel (1.91-1.96% nickel) over widths of 10.8-17.7 metres. Forty-seven holes graded greater than 1% nickel over widths of 2-17.7 metres (22 of these holes cut intercepts greater than 1.5% nickel). Cobalt grades varied from .01-.1%.

Rio Negro was cut by 93 holes. Four holes cut grades greater than 2% nickel (2.08-2.39% nickel) over widths of 11.3-17.6 metres. Over half of the holes (54 to be exact) graded greater than 1% nickel and 24 cut grades greater than 1.5% nickel. Nickel grades were accompanied by .01-.22% cobalt.

The laterite was drilled in a grid pattern at 100-metre spacing. El Inicio was tested by 13 holes at this spacing, and by 47 holes drilled at 25-metre-squared spacing.

Some holes were re-drilled because the initial drilling had poor recovery.

A resource estimate for the three deposits is being calculated by Snowden Mining Industry Consultants.