MPJ pinpoints nickel sulphide lava channel at Roe 1

Published at Feb 24, 2015, in Small Caps

Mining Projects Group (ASX:MPJ) has intersected further fertile nickel geochemistry in recently completed diamond drilling at its Roe 1 Prospect in Western Australia.

The first cross section of diamond drilling intersected elevated nickel-copper-PGE mineralisation within the core and at the base of a 170m ultramafic flow.

This work confirmed the presence of a new nickel bearing lava channel to the north of the already identified 40km strike zone, within a broader ultra-mafic system.

MPJ undertaking $2.2M capital raise

Following results at Roe 1, MPJ announced a $2.2M capital raising to fund its 2015 work programme, and plan to further define the 40km strike and drill priority targets.

This raise comprises $600,000 from the issue of 100 million new fully paid shares at $0.006 per share with a one for one free attaching option. A 1 for 5 non-renounceable rights issue to raise approximately $1.6M will also be offered to eligible shareholders at $0.006 per share with a one for one free attaching option.

Similarities to other nickel discoveries

The geology at MPJ’s Roe 1 Prospect is comparable to the Cosmos Nickel Project where the core of the system contained disseminated sulphides above rich massive sulphides.

This is encouraging as the rocks at Roe 1 appear to be the upstream portion of an extensive fertile system and highlights the potential for downstream nickel sulphide deposits.

The confirmation of fertile lava channels at both ends of the 40 km strike at Roe Hills increases the scope of the entire system while reinforcing MPJ’s geological “Cabbage Leaf” model of Kambalda style komatiite flows.

The diamond drill holes completed were designed to establish geological stratigraphic control so as to bring Roe 1 in line with exploration progress at the Talc Lake Prospect.

One the recent results, MPJ Managing Director Mr Joshua Wellisch commented:

“MPJ’s leading Technical Team continues to achieve positive results by maintaining its scientific and methodical approach to the exploration using the knowledge and expertise accumulated from previous modern nickel discoveries made by the team.

The confirmation of a new major lava channel at Roe 1 is a very exciting progression which significantly increases the prospectivity of the entire 40km strike at Roe Hills.

It’s a major credit to Mr Hutchison and our technical team as they continue to pinpoint successful drill holes, rapidly defining strategic target channels highly prospective for major discoveries.

The nickel intersections and the geology recorded in the holes to date at Roe 1 have a very strong correlation to the discovery history of known deposits such as Cosmos, Prospero, Sinclair, Cerberus, Silver Swan and Camelwood Nickel deposits.

These deposits were all discovered over a period of time by following the disseminated and narrow nickel sulphide leads within the core of the lava channel.

Once the channel core is located, DHEM and clever geological interpretation will assist in the discovery of the bigger, potentially economic nickel sulphide deposits.”

View Our Investment Portfolios

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Australian ASX Small Cap stocks | Why is Australia’s leading small cap publication

Founded seven years ago, is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise. provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more. is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!