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Mincor Resources NL

Mincor Resources delivers maiden Cassini nickel resource of 18,700 tonnes

The company’s resource across its Kambalda holdings now amounts to 118,000 tonnes of nickel.

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Drilling and aerial survey work at the Cassini prospect

Mincor Resources NL (ASX:MCR) has added to its Kambalda nickel bounty in Western Australia with a further 18,700 tonnes from the Cassini prospect.

The maiden mineral resource for Cassini is 550,000 tonnes at 3.4% nickel, with 93% classified as indicated.

This brings Mincor’s total Kambalda nickel resource to 3.3 million tonnes at 3.6% nickel for 118,000 tonnes.

READ: Mincor Resources delivers robust feasibility study for gold project

Mincor managing director Peter Muccilli said the delivery of a high-quality maiden mineral resource at Cassini within less than six months has demonstrated that the company’s organic nickel growth strategy at Kambalda is firmly on track.

He said: “Our exploration team has done a fantastic job in unravelling the geology at Cassini and their work clearly demonstrates the significant resource upside that we see in and around the prospect.

“The emerging mining and production opportunity at Cassini is one of several nickel work programs underway at Kambalda which we believe will result in a new era of nickel production in the district.

“[This will position] Mincor to take advantage of the forecast growth in nickel markets in the coming years.

A follow-up diamond drill program is scheduled to begin at Cassini this month, along with ongoing regional exploration programs.

Mincor will also carry out programs to progress long-lead items such as environmental surveys to fast-track potential mining licence applications and permitting activities for Cassini.

Mining studies underway

Preliminary mining studies have commenced at Cassini to identify mining approach, possible capital designs, and potential start-up production schedules and cost estimates for the project.

Mining studies will also be undertaken at North Kambalda to evaluate potential mining methodologies to improve the reserve grade at the Durkin North prospect.

They will also assess the viability of including available resources at Ken/McMahon in an enhanced restart scenario.

These studies are scheduled for completion within four months.

Quick facts: Mincor Resources NL

Price: $0.62

Market: ASX
Market Cap: $177.78 m
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