A massive Ni tip is used in spin polarized scanning tunnelling microscopy (SP STM) to explore the magnetization state of nanometre Co clusters, self-organized on the Au(111) surface. Constant current STM images taken at 4.6 K show a bimodal distribution of the cluster heights, accounting for the spin polarization of the STM junction. The spin polarization of the tunnel junction as a function of the bias voltage is found to depend on the local density of states of the sample examined. Changing the vacuum barrier parameters by bringing the tip closer to the surface leads to a reduction in the tunnelling magnetoresistance that may be attributed to spin flip effects.