MEDIA RELEASE
28 November 2006
MINCOR CONCLUDES EARN-IN JOINT VENTURE
AGREEMENT WITH IMAGE RESOURCES NL
Opens New Nickel Exploration Front West of Kambalda
Kambalda nickel miner Mincor Resources NL (ASX: MCR) announced today that it had
concluded an earn-in and joint venture agreement with ASX-listed Image Resources NL. The
deal covers a suite of ten Exploration Licenses west of Mincor’s Kambalda nickel mines and
provides for Mincor to spend up to $1.5 million over a maximum of five years to earn a 70%
interest.
The tenements in question cover a series of magnetic anomalies, some of which Mincor
believes may be related to ultramafic rocks of the type that host Kambalda-style nickel sulphide
mineralisation. The Image tenements compliment nearby tenement applications by Mincor, and
together with Mincor’s applications comprise a highly prospective package of greenfields nickel
exploration ground.
Mincor said that it planned an aggressive exploration program targeting nickel sulphide
mineralisation on these tenements, noting that, despite their evident prospectivity, they had
undergone little or no previous exploration for nickel. The nearby presence of the old Nepean
nickel mine is an indication of the nickel endowment of the area.
Mincor recently lifted its 2006/07 exploration budget to $12 million and is conducting an active
nickel exploration program in the Kambalda area with four surface and two underground drilling
rigs. The Company has also just commenced a reconnaissance drilling program at its Lake
Cowan Gold Prospect south of Higginsville in Western Australia, and has drilling programs
lined up on copper, tungsten and zinc projects in Western Australia, the Northern Territory and
New South Wales.
- ENDS Released by:
Jan Hope/Nicholas Read
Jan Hope & Partners
Tel: (08) 9388 1474
On Behalf of:
Mr David Moore, Managing Director
Mincor Resources NL
Tel: (08) 9321 7125 www.mincor.com.au
121º30'
121º30'
121º30'
121º30'
121º30'
121º30'
121º15'
121º15'
121º15'
121º15'
121º15'
121º15'
121º
121º
121º
121º
121º
121º
120º45'
120º45'
120º45'
120º45'
120º45'
120º45'
(
(
Woolibar
Woolibar
Woolibar
F Nepean
F
Nepean
Kambalda
Kambalda
-31º15'
-31º15'
-31º15'
-31º15'
-31º15'
(
(
-31º15'
-31º15'
-31º15'
-31º15'
-31º15'
Burra
Burra
Burra
Rock
Rock
Burra
Burra
Rock
Rock
Burra Rock
Rock (
(
Widgiemooltha
Widgiemooltha
Widgiemooltha
Widgiemooltha
Widgiemooltha
-31º30'
-31º30'
-31º30'
-31º30'
-31º30'
(
(
-31º30'
-31º30'
-31º30'
-31º30'
-31º30'
Miitel
Miitel
Wannaway
Wannaway
F
F
F
F
Mariners
Mariners
Redross
Redross
-31º45'
-31º45'
-31º45'
-31º45'
-31º45'
F
F
F
F
-31º45'
-31º45'
-31º45'
-31º45'
-31º45'
-32º
-32º
-32º
-32º
-32º
-32º
-32º
-32º
-32º
-32º
-32º15'
-32º15'
-32º15'
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-32º15'
Location
Map
121º30'
121º30'
121º30'
121º30'
121º30'
121º30'
121º15'
121º15'
121º15'
121º15'
121º15'
121º15'
121º
121º
121º
121º
121º
121º
120º45'
120º45'
120º45'
120º45'
120º45'
120º45'
-32º15'
-32º15'
-32º15'
-32º15'
-32º15'
M I NC O R
IMAGE
IMAGE RESOURCES
RESOURCES JV
JV TENEMENT
TENEMENT
RESOURCES NL
MINCOR
MINCOR TENEMENT
TENEMENT
F
F
KALGOORLIE
PERTH
Project
Area
IMAGE RESOURCES JV
NICKEL
NICKEL MINE
MINE
10
0
10
Kilometers
20
Author:
.J Thevissen
Date:
.
November
2006
Drawn:
.Encom
Revised:
.
Dwg No.:
.MCR 06034.wor
Report No.: .
Projection: .Long/Lat GDA 94
Scale:
.