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Cougar Metals NL
Summary
| Project: | Pyke Hill | |
|---|---|---|
| Deposit: | Pyke Hill | |
| Location: | Australia | |
| Commodities: | Cobalt-Nickel | |
| Date: | 9/11/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 11-9-2018: Cougar Metals NL announces a Resource Estimation report for its Pyke Hill deposit at the Pyke Hill project. Updated mineral resource estimate to JORC 2012 compliance. Cougar Metals NL (Cougar or the Company) is pleased to release a JORC 2012 re | |
| Resources: | (Resource, Total): 10.5Mt @ 0.99% Ni, 0.08% Co for 103Kt Ni, 8.9Kt Co contained at Pyke Hill | |
| CP/QP: | [Resources]: Paul Payne (Payne Geological Services Pty Ltd.) | |
| ABSTRACT: | Cougar Metals NL (Cougar or the Company) is pleased to release a JORC 2012 resource statement for the Pyke Hill Nickel/Cobalt Resource which lies 40km south of the Murrin Murrin Nickel facility, and immediately adjacent the current Murrin East mining operations. Cougar holds the nickel and cobalt laterite rights over the Pyke Hill tenement subject to a 40c/tonne royalty (for mined and treated ore) to the vendors. Mineral Resource Estimate An updated Mineral Resource estimate has been completed for the Pyke Hill Nickel-Cobalt laterite deposit in the Eastern Goldfields Region of Western Australia. The deposit occurs within the central portion of the Norseman-Wiluna greenstone Belt. The mineralisation is hosted within the weathering profile developed over Archaean serpentinised peridotite rocks, which are within a sequence of feldspathic volcanic sediments. The deposit has a strike length of 2,100m and is up to 450m wide and attains a maximum depth of 60m below surface. A nickel envelope was interpreted using a 0.8% Ni cut-off. This provided a largely continuous horizon typically 25m to 30m in thickness (Figure 1). A distinct zone of cobalt enrichment is also present in the deposit. A cobalt envelope was interpreted using a 0.08% Co cut-off which defined a largely continuous blanket of mineralisation typically 10m to 20m in thickness. The majority of the cobalt-rich blanket occurs within the upper part of the nickel envelope however in places it extends above the nickel envelope. The deposit was delineated by Cougar with air core and RC drilling completed between 2005 and 2007. The Mineral Resource is now defined by a total of 249 drill holes for 9,824m. The Mineral Resources have been classified as Measured and Indicated Mineral Resources in accordance with the JORC Code, 2012 Edition and are shown in Table A. This table represents the total deposit and is reported using a cut-off grade of > 0.8% Ni or > 0.08% Co. | |
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