Exploration firm African Eagle Resources said internal deposit modelling at its Zanzui project in Tanzania has shown potential for a significant nickel oxide deposit.
The company said the drilling showed an exploration target of at least 20 million tonnes at 0.9 to 1 per cent equivalent nickel, with geophysical data indicating good potential to increase this.
A further eight targets were identified from the data, with the possibility of nickel sulphide and platinum targets as well as oxide nickel targets.
"Together, African Eagle's Zanzui and Dutwa nickel deposits are shaping up to be an important nickel province," managing director Mark Parker said.
"The company has already delineated JORC resources close to one million tonnes of contained nickel equivalent in its Dutwa inventory and the deposit at Zanzui should help surpass this significant milestone."
