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Mincor Resources NL
Summary
| Project: | Kambalda | |
|---|---|---|
| Deposit: | Cassini | |
| Location: | Australia | |
| Commodities: | Nickel-Copper-Cobalt | |
| Date: | 4/23/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 23-4-2019: Mincor Resources NL announces a Resource Estimation report for its Cassini deposit at the Kambalda project. Resource update plus drill results incl. 16.91m @ 1.27% Ni, 0.09% Co, 0.02% Co. Mincor Resources NL (ASX: MCR, “Mincor” or the “Company” | |
| Resources: | (Resource): 780Kt @ 3.7% Ni at Cassini | |
| CP/QP: | [Resources]: Rob Hartley (Internal) | |
| ABSTRACT: | Mincor Resources NL (ASX: MCR, “Mincor” or the “Company”) is pleased to announce an updated Mineral Resource for the Cassini nickel sulphide deposit at Kambalda, with the successful drilling strategy implemented in the March 2019 quarter delivering a 52% increase in contained nickel to 28,500 tonnes. The updated Indicated and Inferred Mineral Resource of 780kt at 3.7% Ni represents an increase of 9,800 highgrade nickel tonnes compared with the maiden Mineral Resource announced in August 2018, clearly establishing Cassini as one of the largest and highest grade nickel resources in the Kambalda district. With extensional drilling continuing ahead of a further planned Mineral Resource update towards the end of this quarter, Cassini is also continuing to emerge as a key pillar of Mincor’s integrated nickel restart strategy in the Kambalda district following the recently signed offtake term sheet with BHP Nickel West. Mincor’s Managing Director, David Southam, said the Company’s decision to accelerate exploration at Cassini during the March 2019 quarter had paid off in spades, with its well-executed diamond drilling strategy resulting in the addition of 9,800 high-grade nickel tonnes in a relatively short space of time. “This is a tremendous result which justifies our decision to increase the number of rigs operating with a focus on rapidly increasing the resource and testing extensions, particularly in the CS4 channel,” he said. “Pleasingly, every parent drill hole and wedge intersected nickel mineralisation, demonstrating the continuity of the orebody, and most of these intersections contain massive sulphides. | |
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