Drilling into nickel laterites in the Dominican Republic is returning good grades for GlobeStar Mining (gmi-t). Recent results from Cumpie Hill are the best grades Globestar has seen to date from its large nickel-laterite property. Hole 96 returned 1.73 percent nickel over 39 metres starting 5 metres down-hole. Nearby hole 95 intersected 27 metres of 1.92 percent nickel, and hole 93 returned 2.02 percent nickel over 24 metres. Since nickel-laterite deposits are essentially flat-lying, all widths are considered true widths. The company holds 192 sq. km of nickel-laterite concessions covering 44 km of the central peridotite belt extending southeast from the Falcondo nickel-laterite mine and smelter complex that Xstrata (xsraf-o, xta-l) acquired in its takeover of Falconbridge last year. GlobeStar's goal is to identify ore that could be processed by Fal-condo's existing smelter facilities. The company has not entered into discussions with Xstrata on the idea.
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