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Cassini Resources Ltd.
Summary
| Project: | West Musgrave | |
|---|---|---|
| Deposit: | Nebo-Babel | |
| Location: | Australia | |
| Commodities: | Copper-Nickel-Cobalt-PGM | |
| Date: | 2/12/2020 | |
| Report Code: | JORC | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 12-2-2020: Cassini Resources Ltd. announces a Pre-Feasibility Study report for its Nebo-Babel deposit at the West Musgrave project. JV - PFS results incl. post-tax NPV of A$800M, IRR of 20%. Cassini Resources Limited (“Cassini, the Company”, ASX:CZI) note | |
| Resources: | (Reserve, Prob.): 220Mt @ 0.33% Ni, 0.36% Cu, 0.06ppm Au, 1ppm Ag, 120ppm Co | |
| CP/QP: | [Resources]: Mark Burdett (Internal) | |
| ABSTRACT: | Cassini Resources Limited (“Cassini, the Company”, ASX:CZI) notes the announcement made today by Joint Venture Partner OZ Minerals Limited (ASX:OZL) regarding results of the Nebo-Babel Pre-Feasibility Study (“PFS”). The PFS, Ore Reserve Statement and Mineral Resource Statement are attached to this announcement at Annexure A. Cassini Managing Director, Mr Richard Bevan said “We are delighted with the Pre-Feasibility Study outcomes for the Nebo-Babel deposits. This is a very significant milestone for the West Musgrave Project (“WMP, the Project”) and all its stakeholders. The PFS clearly demonstrates the strategic value of this project by confirming excellent economics on a long life, low operating cost nickel and copper mine at Nebo-Babel. “The OZ Minerals Technical Team, aided by CZI’s own geologists, has delivered a very high quality PFS with spending in excess of $50m to date. Substantial progress has been made on the metallurgical and resource definition work packages which has significantly de-risked the project. Over 170,000m of drilling has facilitated several phases of metallurgical pilot testing and the release of the Maiden Ore Reserve which supports the first 22 years of mining, a remarkable achievement at this stage of study.” | |
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