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Metals X Ltd.
Summary
| Project: | Central Musgrave Project | |
|---|---|---|
| Deposit: | Wingellina | |
| Location: | Australia | |
| Commodities: | Nickel-Cobalt-Iron | |
| Date: | 1/15/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Mine Development | |
| Report details: | 15-1-2018: Metals X Ltd. announces an Exploration/Drilling Update report for its Wingellina deposit at the Central Musgrave Project project. Drilling results incl. 84m @ 0.2% Co, 1.10% Ni from 0m. Metals X Limited (Metals X or the Company) is pleased to a | |
| Resources: | (Reserve, Prob): 168.4Mt @ 0.93% Ni, 0.07% Co at Wingellina | |
| CP/QP: | [Overall Report]: Jake Russell (Internal) | |
| ABSTRACT: | Metals X Limited (Metals X or the Company) is pleased to advise that it has successfully completed an infill RC drill program at its 100%-owned Wingellina Nickel-Cobalt Project in Western Australia (Wingellina). Initial assays from the first 14 holes have provided further high grade cobalt results. Managing Director, Mr Warren Hallam, said: “As expected, these initial results confirm the extent of high grade cobalt and nickel within the delineated high grade pits of this world-class deposit. Our objective is now to determine the potential development of a smaller start-up option to limit upfront capital expenditure. We already have a defined Ore Reserve that is sufficient in scale to support subsequent expansions and decades of production.” “We look forward in coming weeks to receiving the remaining infill drill results and the completion of the current metallurgical testwork program, which is investigating the production of cobalt sulphate and nickel sulphate from Wingellina ore as feedstock for the battery industry.” In October 2017, Metals X initiated further studies on Wingellina with the objective of optimising a number of high grade cobalt-nickel open pits and undertaking additional testing for the production of cobalt sulphate and nickel sulphate as feedstock for the battery industry (refer to ASX announcement dated 17 October 2017). As part of these studies, the Company has completed a 41 hole infill drill program totalling 2,562m. Results from the first 14 holes have been received, all associated with Pit 1 that is one of the 15 previously identified high grade cobalt-nickel open pits. Four of these holes were also drilled outside of the current resource (holes WPRC0697 – WPRC0699) and all returned significant intercepts of at least 22m from surface at grades of greater than 2.0% Nieq. | |
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