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Neometals Ltd.
Summary
| Project: | Mt Edwards | |
|---|---|---|
| Deposit: | Armstrong | |
| Location: | Australia | |
| Commodities: | Nickel-Copper-Arsenic | |
| Date: | 1/31/2020 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 31-1-2020: Neometals Ltd. announces an Exploration/Drilling Update report for its Armstrong deposit at the Mt Edwards project. Drilling results incl. 34m @ 1.94% Ni, 1663ppm Cu, 404ppm As, 1245ppm Cr, 11.8% Fe2O3, 30.2% MgO from 180m. Project developer Ne | |
| Resources: | (Resource, Total): 0.320Mt @ 2.6% Ni at Armstrong | |
| CP/QP: | [Overall Report]: Gregory Hudson (Internal) | |
| ABSTRACT: | Project developer Neometals Ltd (ASX: NMT) (“Neometals” or “the Company”) is pleased to announce encouraging assay results from reverse circulation (“RC”) drilling at the Mt Edwards nickel project. Drilling, sampling and down-hole electromagnetic (“DHEM”) surveys were conducted at the Armstrong deposit on Mining Lease M15/99, and on the recently acquired Exploration Licence E15/1553 located less than 2 kilometres directly north and along strike from Mincor’s Resources NL (Mincor) Cassini Mineral Resource. The drilling at Armstrong and the yet to be named exploration licence E15/1553 comprised 11 RC holes for a total of 2,083metres completed in November and December 2019. The program included a sampling and assay program with rigid QAQC controls that will enable results to be used in future Mineral Resource estimations. Throughout 2019,Neometals has been actively engaged in multiple drilling and exploration programs across the various deposits and prospects comprising its Mt Edwards project. The Company has been methodically validating and improving its drill-hole database, isolating high grade mineralisation and growing its Mineral Resource base. Exploration results to date, including the outcomes from this program, have provided strong encouragement regarding alternatives to realise value at Mt Edwards. Drilling at Armstrong was planned to infill and test extents of the Armstrong Mineral Resource (320,000 tones @ 2.6% nickel for 8,180 nickel tonnes)* , with a focus on understanding the interpreted down plunge mineralised zone, and remobilised high-grade shoots at depth below the main ultramafic-basalt contact(*for full details refer to ASX announcement entitled “Mt Edwards Nickel - Mineral Resource Estimate” released on 19 April 2018). | |
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