Global Mineral Resource At Mt Edwards Now 9.64 million Tonnes At 1.7% Nickel
Neometals Ltd (ASX: NMT) has unveiled significant increases in its updated Mineral Resource estimates for the McEwen and McEwen Hangingwall deposits.
Both the McEwen and McEwen HW deposits are significant sized disseminated nickel sulphide deposits. They are two of 11 Mineral Resources at Neometals’ Mt Edwards Project located in a province of historic nickel sulphide mines surrounding the township of Widgiemooltha in Western Australia.
The reinterpreted Mineral Resource estimates for McEwen and McEwen HW have increased the tonnes and grade of both deposits, with a combined total of contained nickel now at 41,450 tonnes up from 28,220 tonnes.
In researching historical data for McEwen and McEwen HW further information on the Zabel
Minerals Resource, last estimated in December 2020, was discovered. The data related to the interpretation of oxide and transitional zones at Zabel, and the revised estimate now only includes nickel sulphide in fresh rock.
This information has been used to update the Zabel Mineral Resource, with the revised estimate now 325,000 tonnes at 2.0% nickel for 6,360 tonnes of contained nickel. All other information related to the Zabel Mineral Resource estimate remain the same as tha announced on 23 December 2020.
The Mineral Resource estimates for the McEwen Deposit is 1,133,000 tonnes at 1.4% nickel for 15,300 nickel tonnes, the McEwen Hangingwall Deposit is 1,916,000 tonnes at 1.4% nickel for 26,100 nickel tonnes, and for the Zabel Deposit is 325,000 tonnes at 2.0% nickel for 6,360 nickel tonnes.
The re‐estimation of the McEwen and McEwen Hangingwall Mineral Resources is a continuation of a major review of the Mt EdwardsprojectthathasbeenundertakenbyNeometalssincemid‐2019.TheMcEwen, McEwen Hangingwall and Zabel Mineral Resources were estimated by Richard Maddocks fom Auralia Mining Consultants and reviewed by Snowden Mining Industry Consultants.
A future work programme is planned for McEwen and McEwen HW that will include reverse circulation drilling (RC) understanding of the metallurgical characteristics to pave the way for mining studies.
Background
Neometals acquired the Mt Edwards project in the first half of 2018 and immediately began exploring for nickel and lithium. The company is targeting new discoveries at Mt Edwards while reviewing and enhancing existing nickel Mineral Resources. The company owns, or holds nickel rights to, 36 mining tenements with a large land holding of more than 300 sq. km across the Widgiemooltha Dome, a well‐recognised nickel sulphide mining province.
Updating of the Mineral Resource estimate at the McEwen and McEwen HW deposits has expanded the global Mt Edwards Project Mineral Resources to 9.64 million tonnes at 1.7% nickel for 160,000 tonnes of contained nickel across 11 deposits.
For further information please visit: http://www.neometals.com.au/
