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Mincor Resources NL
Summary
| Project: | Kambalda | |
|---|---|---|
| Deposit: | Cassini | |
| Location: | Australia | |
| Commodities: | Nickel | |
| Date: | 8/26/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 26-8-2019: Mincor Resources NL announces a Resource Estimation report for its Cassini deposit at the Kambalda project. Cassini resource increases 33%. Mincor Resources NL (ASX: MCR, “Mincor” or the “Company”) is pleased to announce a further substanti | |
| Resources: | (Resource, I+I): 0.985Mt @ 3.8% Ni at Cassini | |
| CP/QP: | [Resources]: Rob Hartley (Internal) | |
| ABSTRACT: | Mincor Resources NL (ASX: MCR, “Mincor” or the “Company”) is pleased to announce a further substantial increase in the Mineral Resource for the Cassini nickel sulphide deposit at Kambalda, with ongoing drilling during the June 2019 quarter delivering a 33% increase in contained nickel to 37,800 tonnes. The updated Indicated and Inferred Mineral Resource of 985,000 tonnes @ 3.8% Ni represents an increase of 9,300 high-grade nickel tonnes. Importantly, the addition of 205,000 tonnes of ore was delivered at a grade of 4.5% Ni, confirming Cassini as one of the largest and highest grade nickel resources in the Kambalda district. In addition, over 91% of the expanded Mineral Resource is now classified in the higher-confidence Indicated category, and is available for conversion to Ore Reserves. Given its grade, location and growth potential, Cassini will be a key pillar of Mincor’s integrated nickel restart strategy in the Kambalda district following the recently signed Offtake Agreement with BHP Nickel West. Mincor’s Managing Director, David Southam, said the continued rapid growth in the Cassini Resource this year in terms of tonnage, grade and quality vindicated its decision to accelerate exploration drilling following its successful $23 million capital raising. “Our well-executed diamond drilling strategy has resulted in the addition of a further 9,300 high-grade nickel tonnes in a relatively short space of time,” Mr Southam said. “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 and CS5 channels.” “Continuing the recent trend at Cassini, every parent drill hole and wedge has intersected nickel sulphide mineralisation, demonstrating the continuity of the orebody, with most of these intersections containing massive sulphides – an impressive result. Drilling at Cassini will continue through the September quarter, albeit at a reduced pace in conjunction with geotechnical drilling for the Cassini box-cut and underground diamond drilling in the Spanner area of the Long nickel mine.” | |
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