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Estrella Resources Ltd.
Summary
| Project: | Spargoville | |
|---|---|---|
| Deposit: | 5A | |
| Location: | Australia | |
| Commodities: | Nickel-Copper | |
| Date: | 10/18/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 18-10-2019: Estrella Resources Ltd. announces a Resource Estimation report for its 5A deposit at the Spargoville project. Initial nickel sulphide resource at 5A Spargoville. Estrella Resources Limited (ASX: ESR) (Estrella or the Company) is pleased to rep | |
| Resources: | (Resource, I+I): 127Mt @ 1.9% Ni, 0.15% Cu | |
| CP/QP: | [Resources]: Shaun Searle (Ashmore Advisory Pty Ltd.) | |
| ABSTRACT: | Estrella Resources Limited (ASX: ESR) (Estrella or the Company) is pleased to report to shareholders its maiden 5A nickel sulphide Mineral Resource at the Spargoville Nickel Project, located approximately 30km south-west of Kambalda, Western Australia. The maiden Mineral Resource stands at 127,000 tonnes at 1.9% Ni and 0.15% Cu for a contained nickel metal inventory of 2,370 tonnes and is reported in compliance with the JORC Code (2012). The Mineral Resource is shallow with the majority of nickel within 100m of surface and amendable to open pit mining. The maiden Mineral Resource follows a detailed assessment of historic drilling and the inclusion of significant high grade nickel sulphide drilling results achieved by the Company (see ASX release 18 December 2018). Over 65% of the contained nickel tonnes in the 5A maiden Mineral Resource have been classified as Indicated with there being sufficient drill density and understanding of the mineralisation to satisfy this classification. The deposit is open at depth below the high grade nickel sulphide drill intercepts which allows potential for an increase in the current resource with further drilling. In light of the current strength in the nickel market and the positive outlook, the Company will undertake steps towards commercialisation of the 5A nickel sulphide Mineral Resource. | |
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