Cannon Resources (ASX:CNR) has revealed a maiden JORC 2012 Mineral Resource for the Sabre deposit at the Fisher East project in Western Australia of 1.8 Mt @ 1.4% Ni for 24.5 Kt contained nickel.
Highlights:
- The Fisher East Project now contains 116,300 t of nickel in four separate deposits – Musket, Camelwood, Cannonball, and Sabre.
- Sabre is six km south of Musket and is a separate channelised Kambalda style deposit on the same geological contact as Musket, Camelwood and Cannonball
- Sabre resource has been drilled over a strike length of 600 metres and to a maximum depth of just 300 metres and remains open laterally, internally and down plunge
- Diamond drilling currently underway at Sabre testing higher grade extensions to the resource at targets above 300 metres
Sabre is a channelised komatiite hosted nickel deposit sharing the same genesis, mineralisation style and host stratigraphy as Cannon’s three other Fisher East nickel deposits of Musket, Camelwood, and Cannonball.
Sabre is six km south of Musket and the four deposits are all located on an eight km section of the basal komatiite/sediment contact on 100% Cannon tenure.
“Cannon is pleased to achieve another milestone with the release of the maiden resource for Sabre. At 24.5 kt of contained nickel the resource is already of a substantial size with plenty of growth upside,” CEO, Steve Lynn
“The Sabre channel is very extensive and looks to be at least 700 metres wide and remains undrilled on the margins and only partly drilled to a maximum depth of 300 metres. Given the style and scale of the mineralisation intersected to date, we remain confident that the mineralisation will also extend down plunge.
“Additionally, we have interpreted a series of higher-grade zones inside the resource that we will immediately target with extensional drilling using the current on-site drill rig. We see outstanding potential for resource growth in the sub-300m zone as well as down plunge extension and look forward to updating the market as the drilling results are received.
“Looking at the total nickel inventory so far identified at Fisher East, it is shaping up to be a substantial and significant high-grade Class 1 nickel field with four resources identified to date, all with mineralisation near surface, all expandable and all open at depth.”
For further information please visit: https://www.cannonres.com.au/
