VANCOUVER, British Columbia, Oct. 18, 2019 (GLOBE NEWSWIRE) -- Sienna Resources (SIE—TSX.v) (A1XCQ0 –FSE) (SNNAF—OTCBB) is pleased to announce the completion of its drill program on its flagship nickel, copper and cobalt Slättberg Project in Sweden. All samples will be shipped next week to ALS Global with the expected assay results back in 4-6 weeks.
In 2018, Sienna intersected 13.0 meters averaging 0.32% nickel and 0.28% copper and 0.034% cobalt and 0.32 ppm platinum + palladium in drill hole SIE-18-005, as reported in Sienna’s News Release dated May 17, 2018. As a follow up to hole 18-005, Sienna drilled hole SIE-19-001, which represents a 50 meter step out to the west and down-dip of the mineralization intersected in hole SIE-18-005. SIE-19-001 was drilled to a depth of 259.5 meters.
Based upon a visual inspection by the head geologist at the drill, drill hole SIE-19-001 intersected bodies of semi-massive to massive sulfide mineralization and breccias over a 4.625 meter interval from 168-172.625 meters, with additional masses of sulfide mineralization and breccia that persisted to a depth of 195 meters1. The sulfide mineralization intersected in 19-001 was also associated with and hosted by a swarm of diabase (mafic) dikes, which persisted to the end of the hole at 259.5 meters. The density and thickness of the mafic dikes seen in 19-001 are far greater than seen in other drill holes in the area and in surface exposures.
Further, the presence of visible sulfide mineralization distributed over a 27 meter interval in the drill hole2 and the intensity of the dike swarm may suggest that Sienna is tapping into a “feeder zone” for the system. Assays and analytical results for drill hole SIE-19-001 are pending, and further drilling to deeper levels may be needed to determine the geometries and tenor of mineralization in the area, and to test the “feeder zone” concept.
Jason Gigliotti, President of Sienna Resources, states, “We are very pleased with how the drill program has gone. We are excited to see what the assays come in at. We feel that nickel will be one of the best performing metals in 2020. With the 2 year planned ban of exports from Indonesia spurring a tightening in supply at a time with larger demand. This historic demand is growing as new uses for nickel such as electric batteries gains momentum on a global scale. Nickel inventories are near 40 year lows as stockpiling has been occurring with anticipation of tighter supplies and potential trade wars persist. Indonesia produced approximately 16% of global nickel mine production in 2017 and approximately 24% in 20183. Taking that production out of the market could have a significant impact on Nickel prices. As an example Saudi Arabia produced about 12% of global oil output in 20184. Sienna plans to focus on nickel assets going forward as we feel this will be the best place to be in the foreseeable future.”
1 True width estimated at 55-65% of interval
2 True width unknown, but estimated at 50-60% of interval
3 USGS Mineral Commodity Summaries of 2019
4 US Energy Information Administration
The technical contents of this release were approved by Greg Thomson, PGeo, a qualified person as defined by National Instrument 43-101.
As a cautionary note, the visuals seen in the core need to be verified as to grade and length by the assays from ALS Global.
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Contact Information
Tel: 1.604.646.6900
Fax: 1.604.689.1733
www.siennaresources.com
info@siennaresources.com
“Jason Gigliotti”
President, Director
Sienna Resources Inc.
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