Longwood & Round Hill
Project Description
In February 2008 Global Nickel acquired a 75% interest in The Longwoods Platinum Exploration Permit 40538 in the South Island of New Zealand.
This Exploration Permit covers the Longwood’s layered ultramafic intrusion that is prospective for platinum group metals (PGM) and nickel sulphide mineralization.
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Location & History
Longwood
The Longwood platinum project is located in an alluvial gold, platinum and quartz district of New Zealand. The Takitumu – Longwood area of southland New Zealand is well known for its alluvial platinum and gold deposits that are interpreted to have been sourced from the upper parts of the Longwood Range where the ultramafic body outcrops.
The presence of alluvial gold and PGE is reflected in historical production of gold and the identification of PGE in alluvial concentrates by the earlier operator. Longwood experienced significant alluvial gold and PGE production between the late 1860’s and the 1950’s.
More recently, the license areas have been under the control of a number of small operators. Face sampling at Longwood returned grades up to 0.6 grams of gold per cubic metre. These samples were taken from a recently worked pit within the joint venture area.
The Longwood’s ultramafic contains prospective troctolite phases coincident with an untested three km long soil anomaly containing elevated platinum and palladium.
Two earlier diamond drill holes returned several anomalous platinum and palladium intersections, clearly indicating the existence of primary PGM mineralization.
The Longwood’s ultramafic has marked geological similarities to other prolific platinum bearing layered intrusions, such as the Bushveld Complex of South Africa, Great Dyke of Zimbabwe and the Stillwater Complex of Montana.
Within these layered bodies, the PGM typically occur in very thin layers that may be difficult to detect initially, but once discovered can often be traced for many kilometres.
Given the minimal exploration at Longwoods and the abundant PGM indicators, there is high potential for discovery of similar to unknown PGM reefs.
Presently Global Nickel is conducting a bulk soil sampling program, and geochemistry exploration work at Longwoods Tops.
Round Hill
In order to build scale in the attractive geology of the Southland region, and draw cashflow, Global Nickel acquired a 50% interest in the Round Hill Alluvial Gold Mine. The Round Hill project is based on an existing mining permit (MP41653) and is currently the subject of a thorough bulk sampling and trial mining program.
Global Nickel is confident that the Round Hill project, with its low operational costs, and local operating team represents an excellent opportunity for cash-flow generation throughout 2009.