UPDATE 1.15pm: Shares in market darling Sirius Resources soared nearly 40 per cent after it late yesterday announced a new nickel discovery at its Fraser Range project east of Norseman.
Sirius reported a thick new zone of sulphide mineralisation about 200 metres east of its celebrated Nova deposit, which it has named Bollinger.
The company said one of its drill holes had intersected 125 metres of mineralisation so far and was still in mineralisation now.
"Although laboratory assays will not be available for some time, the mineralisation is visibly similar to that at Nova, with coarse grained pentlandite (nickel sulphide) and chalcopyrite (copper sulphide)," the company said in a statement.
Sirius managing director Mark Bennett said it was the thickest intersection encountered yet in an unexplored area on the edge of a large gravity anomaly.
"This could add an entirely new dimension to the Nova project," he said.
Sirius also received news today that it would join the S&P/ASX300 index on March 16.Shares in the company closed up 79 cents, or 38.35 per cent, at $2.85 after hitting an earlier peak of $3.09.
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