IGO LIMITED 
By 25 January 2012
Australian Securities Exchange
Company Announcements No. of pages: (10) Exchange Centre
20 Bridge Street
Sydney NSW 2000
Independence Group NL (ASX: IGO) is pleased to announce the
completion of an initial Mineral Resource Estimate for the
Rosie nickel-copper-platinum group elements (Ni-Cu-PGE)
sulphide deposit within the Duketon Joint Venture (IGO
earning 70% of nickel rights). The Duketon Joint Venture with
South Boulder Mines Ltd (ASX: STB) is centred approximately
120km north of Laverton in Western Australia (Figure 1). The
Rosie Resource estimate does not include the C2 mineralised
zones located approximately 1.7km to the north west (Figure
2). This estimate has been reported in accordance with the
Australasian Code for Reporting of Exploration Results,
Mineral Resources and Ore Reserves [2004] (the JORC
Code).
The total Rosie Mineral Resource above a 1% Ni cut-off is
currently estimated at 1,744,000t @ 1.7% Ni (29,800 Ni t),
0.4% Cu and 1.9g/t Pt + Pd (platinum and palladium) according
to the following classification:
ROSIE NICKEL RESOURCE >1.0%NI - DECEMBER 2011
Classification | Oxidation | Tonnes | Ni (%) | Ni (t) | Cu (%) | Pt (g/t) | Pd Pt+Pd (g/t) (g/t) |
Fresh | 685,000 | 1.9 | 13,300 | 0.4 | 0.8 | 1.1 1.9 | |
Indicated | Transitional | 30,000 | 1.6 | 500 0.3 0.7 1.2 1.9 13,800 0.4 0.8 1.1 1.9 15,400 0.4 0.8 1.2 2.0 600 0.2 0.7 1.0 1.7 | |||
Sub-Total | 715,000 | 1.9 | 500 0.3 0.7 1.2 1.9 13,800 0.4 0.8 1.1 1.9 15,400 0.4 0.8 1.2 2.0 600 0.2 0.7 1.0 1.7 | ||||
Fresh | 990,000 | 1.6 | 500 0.3 0.7 1.2 1.9 13,800 0.4 0.8 1.1 1.9 15,400 0.4 0.8 1.2 2.0 600 0.2 0.7 1.0 1.7 | ||||
Inferred | Transitional | 39,000 | 1.6 | 500 0.3 0.7 1.2 1.9 13,800 0.4 0.8 1.1 1.9 15,400 0.4 0.8 1.2 2.0 600 0.2 0.7 1.0 1.7 |
The Resource occurs over a vertical depth of approximately 600m and a strike length of 1100m. The geometry of, and distribution of metal within the mineralised zones has been affected by multiple phases of tectonic modification which impacts exploration targeting. Mineralisation remains open along strike and at depth.
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Level 4 Suite 5, South Shore Centre I 85 South Perth Esplanade i South Perth I Western Australia 6151
PO Box 496 I South Perth I Western Australia 6951
Telephone +61 8 9238 8300 I Facsimile + 9238 8399 I Email contact@igo.com.au I Website www.igo.com.au
ASX RELE ASE
The distribution of Indicated and Inferred classified
material is illustrated in Figure 3. Mineralisation at Rosie
consists of disseminated, matrix, stringer, breccia massive
and massive Ni-Cu-PGE sulphides (refer to photo in Figure 4)
at, or adjacent to, the contact of the Bulge ultramafic
complex with the adjoining basalt and dolerite (refer to
cross-section in Figure 5). It strikes approximately
north-west and dips steeply to the south at the south eastern
end and is sub-vertical in the central and northern
zones.
The Rosie mineralisation is of medium tenor (8-10% Ni in 100%
sulphides), has a Ni/Cu ratio of about
10:1 and has significant Pt and Pd credits. The Pt "tenor"
averages about 3g/t and is moderately variable, typically in
the range of 2-6g/t. The Pd "tenor" averages about 3-4g/t and
is more variable, typically in the range of 1-10g/t. Analysis
of PGEs indicates that the mineralisation may also have
significant Ruthenium and Rhodium concentrations.
The mineralogy of the system appears to be similar to typical
Kambalda-style magmatic Ni systems, with pyrrhotite,
pentlandite and chalcopyrite as the dominant sulphides in the
primary portion of the mineralised zone.
Three mineralised domains were modelled; a higher grade
Contact domain with lower grade Footwall and Hanging Wall
domains. Only the Contact domain is included in this Resource
estimate.
A further phase of exploration at Duketon is scheduled to
commence in February 2012 testing numerous targets including:
