NickelSearch Limited (ASX: NIS) has made a huge step forward in confidence in the Mineral Resources for its flagship wholly-owned Carlingup Nickel Sulphide Project near Ravensthorpe, Western Australia.
The updated JORC 2012 Mineral Resource Estimate (MRE), comprising 154.9kt of contained nickel, of which 64.9kt is from nickel sulphides.
Managing Director, Nicole Duncan, said NickelSearch is extremely pleased to report an increase of Indicated Resources within the nickel sulphides to 42.3kt, which represent 65% of the total resource. This increase in confidence is a result of the success of the in-fill drill programs completed during CY2022. The Company plans to support its existing shallow resource base through the discovery of high-grade nickel sulphides at depth.
“NickelSearch is focused on exploration for high-grade nickel sulphides at our Carlingup Project, which is underexplored at depth,” Ms Duncan said.
“We are confident that our systematic approach to exploration will deliver a nickel sulphide discovery, as we prioritize and test our prospective greenfield targets. We are off to a great start to our greenfields exploration program following the successful nickel sulphide intersections at Sexton.
“We are extremely excited to test our high-priority targets at Serendipity, B1 and the high-grade underground extensions at RAV8. Today’s significant upgrade to Carlingup’s nickel sulphide Indicated Resources is an important milestone, providing a base from which we can confidently grow, including at RAV8.
“NickelSearch is committed to delivering value through increasing the confidence of our existing shallow resource base and progressing our heap leach processing solution, which we believe will be the most economic pathway forward.”
The in-fill resource development drilling programme focused on:
• shallow nickel deposits that are mineable through an open pit,
• upgrading RAV1, RAV4 and RAV4-West Exploration Targets to JORC 2012,
• testing the possibility of converting RAV5 to a resource, and
• upgrading the disseminated halo at RAV8.
Drilling within the Exploration Target areas at RAV1, RAV4, and RAV4W has confirmed the extent, width, and grade of mineralization in each deposit. Replacement of historic drilling in these areas with high quality data has mostly converted at the higher end of the Exploration Targets, to Inferred or Indicated Mineral Resources
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