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Neometals Ltd.
Summary
| Project: | Mt Edwards | |
|---|---|---|
| Deposit: | Gillett | |
| Location: | Australia | |
| Commodities: | Nickel | |
| Date: | 5/26/2020 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 26-5-2020: Neometals Ltd. announces a Resource Estimation report for its Gillett deposit at the Mt Edwards project. Initial Mineral Resource Estimate for Gillett Deposit. Reverse circulation (“RC”) drilling was undertaken at Gillettin September 2019 to te | |
| Resources: | (Resources, I+I): 8.4Mt @ 1.7% Ni (141kt Ni) for Mt Edwards Project | |
| CP/QP: | [Resource]: Richard Maddocks (Auralia Mining Consulting Pty Ltd.) | |
| ABSTRACT: | Reverse circulation (“RC”) drilling was undertaken at Gillettin September 2019 to test for strike extensions of the existing Mineral Resource (first estimated in 2007). Drilling generated significant intercepts, confirmed a strike extension (now greater than 800m) and also improved the understanding of the interpreted geology, including the near horizontal plunge of the mineralised zone on a steeply dipping and overturned ultramafic-basalt contact. The September 2019 RC drilling at Gillett intercepted nickel sulphides, including 16 metres @ 1.44%nickel from 222 metres depth down drill-hole (for full details refer to ASX announcement entitled “Mt Edwards Nickel - Drill Results from Widgie South Trend” released on 11 December 2019). The program helped validate previous drilling information, but more importantly, when considered against an absence of exploration since 2008, highlighted the opportunity to significantly define a much larger mineralisation footprint. The scope to further grow Gillett has driven a future work program that will include RC and diamond core drilling to further test the extents of mineralisation, and infill drilling to increase confidence sufficient to ‘upgrade’ the Mineral Resource classification. Diamond core drilling and sampling will be used to further improve the understanding of the mineralogy and metallurgical characteristics to pave the way for advanced mining studies. | |
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