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Neometals Ltd.
Summary
| Project: | Mt Edwards | |
|---|---|---|
| Deposit: | Munda | |
| Location: | Australia | |
| Commodities: | Nickel-Iron-Copper-Magnesium-Arsenic-Cobalt-Sulphur | |
| Date: | 11/13/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 13-11-2019: Neometals Ltd. announces a Resource Estimation report for its Munda deposit at the Mt Edwards project. Resource estimate for the Munda deposit. Neometals Ltd (ASX: NMT) (“Neometals” or “the Company”) is pleased to announce details of the u | |
| Resources: | (Resource, Inferred): 0.320Mt @ 2.23% Ni at Munda | |
| CP/QP: | [Resources]: Richard Maddocks (Auralia Mining Consulting Pty Ltd.) | |
| ABSTRACT: | Neometals Ltd (ASX: NMT) (“Neometals” or “the Company”) is pleased to announce details of the updated nickel Mineral Resource at the Munda deposit (“Munda”), estimated in accordance with the 2012 JORC Code. Acquired in early September 2019, Munda forms part of the Mt Edwards project which sits in an area of historic nickel sulphide producing mines. The Mineral Resource was estimated by Richard Maddocks from Auralia Mining Consultants, using historical and new drilling and assay data. The updated Munda Mineral Resource estimate showcases a respectable nickel grade and it bolsters the global contained nickel in the Mt Edwards Mineral Resources by approximately 5.8% to over 130,400 contained nickel tonnes (for full details refer to ASX announcement entitled “Mt Edwards Project Mineral Resource Over 120,000 Nickel Tonnes” released on 25 June 2018). Recent diamond core drilling at Munda intercepted nickel sulphide in an area east of the main Munda nickel channel. The assay results confirm an 8.3 metre (down hole width) zone of nickel sulphide mineralisation from 93 metres down hole, with an enriched zone of 2.3m @ 6.11% nickel at the base of the ultramafic unit. This was the first drilling at Munda conducted for nickel exploration since 2007 and warranted a reinterpretation of the geology (for full details refer to ASX announcement entitled “Further Nickel Drill Results at Mt Edwards” released on 9 October 2019). | |
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