NiCAN Limited ("NiCAN" or the "Company") ( TSXV: NICN) has received outstanding assay results from the first two diamond drill holes drilled in 2022 at the Wine project in Manitoba. These drill holes were part of NiCAN's initial drilling campaign at the Wine project and were drilled vertically to gain an understanding of the overall thickness and orientation of mineralization encountered in the historical drilling.
Highlights (complete assays are set out in Tables 1 and 2):
Note: Nickel Equivalent ("NiEq") was calculated using copper and nickel values only.
Brad Humphrey, President, and CEO of NiCAN commented,"This is an excellent result from our initial drilling at the Wine project. This drilling program was designed to improve our understanding of the Wine Occurrence, confirm the mineralization encountered in the historical drilling and determine the orientation of the mineralized body. Intersecting multiple zones containing high nickel equivalent values is very encouraging."
The 56.8 km2 Wine property is located west of Snow Lake in Manitoba (Figure 4). The initial 2022 exploration program included an airborne geophysical survey, partial resampling of a historical drill hole, downhole geophysical (electro-magnetic) surveys and 17 diamond drill holes, 1,600 metres in total, testing an area known as the Wine Occurrence, as well as seven other nearby geophysical anomalies. The objective of this program was to confirm the presence of nickel-copper mineralization at the Wine Occurrence and improve NiCAN's understanding of the geological model and the orientation of the mineralization, which will be used to better target future drilling programs.
NiCAN anticipates receiving and releasing the assay and geophysical survey results, following quality control, over the next several weeks. The results from this initial exploration work will be used to refine the geological model and to design a follow up Phase 2 exploration plan.
Immediately following the overburden, drill hole Wine-22-02 intersected 0.7 metres averaging 0.64% Cu and 0.27% Ni (NiEq of 0.49%) from 7.2 to 7.9 metres. This was followed by three additional mineralized intersections down hole, including 4.6 metres averaging 1.02% Cu and 0.74% Ni (NiEq of 1.07%), 0.3% Co and 0.28 g/t PGMs ("Au+Pt+Pd") from 34.9 to 39.5 metres; 2.8 meters averaging 0.64% Cu and 1.87% Ni (NiEq of 2.08%), 0.08% Co and 0.56 g/t PGMs from 45.8 to 48.6 metres as well as 6.1 metres averaging 1.9% Cu, 0.09% Ni (NiEq of 0.71%), 0.003% Co and 2.49 g/t PGMs from 60.8 to 66.9 metres (Figure 1).
Figure 1: Drill holes Wine-22-02 and Wine-22-05 Presented in a Section Looking Northwest (300⁰)
There appears to be a strong correlation between intersections of higher-grade copper assays and elevated PGM grades. An 11.20% Cu assay from 60.8 to 61.4 metres also returned 6.0 g/t Au, 1.01 g/t Pt and 1.47 g/t Pd. Another significant copper assay of 9.47% Cu from 66.5 to 66.9 metres also returned 8.35 g/t Au, 1.20 g/t Pt and 6.18 g/t Pd.
All mineralized intersections were hosted by gabbro with the last three hosted by a distinct light-coloured gabbro unit.
Wine-22-05 was drilled 16 metres northeast of Wine-22-02 and intersected three zones of mineralization starting at 25.0 metres downhole. They include 4.1 metres averaging 1.03% Cu and 0.96% Ni (NiEq of 1.31%), 0.05% Co and 0.29 g/t PGMs from 25.0 to 29.1 metres; 3.8 metres averaging 2.42% Cu and 0.52% Ni (NiEq of 1.27%), 0.03% Co and 0.92 g/t PGMs from 34.8 to 38.4 metres and 27.3 metres averaging 1.81% Cu and 2.01% Ni (NiEq of 2.61%), 0.09% Co, 0.46 g/t PGMs from 43.0 to 69.3 metres. All were hosted by the light-coloured gabbro unit (Figure 1).
The initial mineralized zone encountered in drill hole Wine-22-05, which intersected 4.6 metres averaging 1.02% Cu and 0.74% Ni (NiEq of 1.07%), is interpreted to be a separate zone than that intersected in drill hole Wine-22-02. Further work is required to determine this zone's extent and characterization. Subsequent zones intersected in the drill hole can be correlated to those in drill hole Wine-22-02, as well as historical drill hole RAD07-01 (20.4 metres averaging 1.38% Ni and 2.14% Cu (NiEq of 2.09% Ni)), EEL-346 (16.5 metres averaging 0.85% Ni and 1.50% Cu (NiEq of 1.35% Ni)) and EEL-302 (12.8 metres averaging 0.52% Ni and 0.97% Cu (NiEq of 0.84% Ni)) (Figure 2) (see press release dated August 23, 2022).
On the section where drill hole Wine-22-05 intersects proximal to historical drill holes EEL-346 and RAD07-01, the mineralized zone is estimated at a true width of 16 metres and a thickness of 27 metres.
Figure 2: Drill Holes Wine-22-02 and Wine-22-05 Presented in a Section Looking Northwest (350⁰) and including Historical Drill Holes*
Figure 3: Historical Drill Hole Locations
* Historical drill hole assays are listed in Table 3
All core samples were sent to the Saskatchewan Research Council ("SRC") in Saskatoon (an accredited laboratory) by secure transport for base and precious metal assay. Base metals were assayed by their ICP3 package, which includes a total of 35 analytes by ICP-OES (Inductively Coupled Plasma – Optical Emission Spectroscopy). Partial digestions were performed on a 0.5 gram aliquot of sample pulp which was digested in a mixture of HCl:HNO3, in a hot water bath and then diluted to 15 ml using deionized water. Over-limits for copper, nickel and cobalt had an aliquot of 1.0 gram sample pulp digested in a concentration of HCl:HNO3. The digested volume was then made up with deionized water for analysis by ICP-OES. Fire Assay Techniques involved a 30 gram aliquot of sample pulp which was mixed with a standard fire assay flux in a clay crucible and a silver inquart added prior to fusion. After the mixture was fused, the melt was poured into a form which was cooled. The lead bead was then recovered and cupelled until only the precious metal bead remained. The bead was then parted in dilute HNO3. The precious metals were then dissolved in aqua regia and then diluted for analysis by ICP-OES
Laboratory Quality Control protocols were applied to the assay sample package by SRC. NiCAN submitted a regular schedule of standards, blanks and duplicates into the sample stream for Quality Control measures. Drill core samples are split in half using a diamond saw with half saved for reference and the other half shipped for assay. In the case of duplicate samples the half core is quarter split with the two quarter splits sent for separate assay.
NiCAN does not have any historic QA/QC data for the 2007 or earlier drill results.
Table 1: Assay List – Diamond Drill Hole Wine-22-02
Table 2: Assay List – Diamond Drill Hole Wine-22-05
Table 3 – Historical Drill Hole Assays
Note: NiEq includes Ni and Cu values only - Ni+(Cu x 0.33)
Mr. Bill Nielsen, P.Geo, a consultant to NiCAN, who is a qualified person under National Instrument 43-101 – Standards of Disclosure of Mineral Projects ("NI 43-101") has reviewed and approved the scientific and technical information in this press release.
NiCAN Limited is a mineral exploration company, trading under the symbol "NICN" on the TSX-V. The Company is actively exploring two nickel projects, both located in well-established mining jurisdictions in Manitoba, Canada.
To receive news releases by e-mail, please register using the NiCAN website at www.nicanltd.com.
Cautionary Note Regarding Forward-Looking Statements
The information contained herein contains certain "forward-looking information" under applicable securities laws concerning the proposed financing, business, operations and financial performance and condition of NiCAN Limited. Forward-looking information includes, but is not limited to, the size and timing of the drill program, results of the drill program, NiCAN's ability to identify mineralization similar to that found in prior drill holes, the benefits and the potential of the properties of the Company; future commodity prices (including in relation to NiEq calculations); drilling and other exploration potential; costs; and permitting. Forward-looking information may be characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Many of these assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct. Factors that could cause actual results to vary materially from results anticipated by such forward-looking information includes changes in market conditions, fluctuating metal prices and currency exchange rates, the possibility of project cost overruns or unanticipated costs and expenses and permitting disputes and/or delays. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking information.
Neither TSX-V nor its Regulation Services Provider (as that term is defined in policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
Talon Announces Assay Results from 13 New Drill Holes
Talon Metals Corp. (TSX: TLO) (OTC Pink: TLOFF) ("Talon" or the "Company") is pleased to provide an update on the Tamarack Nickel-Copper-Cobalt Project ("Tamarack Nickel Project"), located in central Minnesota.
Figure 1: 4.89 meters grading 5.30% Ni and 2.27% Cu (6.51% NiEq or 17.37% CuEq) at 204.77 meters in drill hole 21TK0369
To view an enhanced version of Figure 1, please visit: https://images.newsfilecorp.com/files/2443/136305_80ad5192a4e1abe6_001full.jpg
Today, Talon reports assays from fourteen (14) new drill holes in the CGO West area, located outside of the Tamarack Nickel Project's main resource area.
Notable assay results include the following:
Table 1: Notable Assay Results from New Drill Holes at the Tamarack Nickel Project *See Table 3 for further technical information
"Today's announcement demonstrates that we continue to find more thick, high-grade nickel-copper mineralization in the CGO West area, which is located outside of the Tamarack Nickel Project's defined resource area. More specifically, drill hole 21TK0369 contains an extremely thick 29.39 meter interval grading 1.71% Ni (2.21% NiEq). This represents one of the thickest intercepts encountered in the CGO West area to date. The fact that this hole is located on the western edge of the CGO West area highlights that CGO West continues to be open to the west. While we had intended to be finished drilling in the CGO West area by now, the high-grade nickel-copper mineralization just seems to keep going; therefore, we feel it is prudent to continue drilling within the CGO West area to further expand our resource," said Brian Goldner, Talon Metals, Chief Exploration Officer.
Henri van Rooyen, CEO of Talon said: "While drilling continues in both the CGO West and Main Zone (the Tamarack Nickel Project's defined resource area) to further expand the Company's resource, our ongoing work towards a feasibility study continues, with the goal of first production in 2026."
Mr. van Rooyen continued: "In addition, we recently deployed two additional drill rigs into the 264 Zone (3 km north of the Company's resource area) and into the 221 Zone (1 km north of the Company's Resource area) to follow-up on various geophysical anomalies to identify potential satellite high-grade nickel-copper deposits. We will provide updates once we have results from these exciting new targets."
Figure 2. Plan view geological map of the northern portion of the Tamarack Nickel Project (CGO West area) showing the new drill holes (assays) in red
To view an enhanced version of Figure 2, please visit: https://images.newsfilecorp.com/files/2443/136305_80ad5192a4e1abe6_002full.jpg
Table 2: Collar Locations of New Drill Holes Referred to in this Press Release
Collar coordinates are UTM Zone 15N, NAD83 Azimuths and dips are taken from survey record at collar unless otherwise noted
Table 3: Assay Results of New Drill Holes Referred to in this Press Release
Length refers to drill hole length and not True Width. True Width is unknown at the time of publication.
All samples were analysed by ALS Minerals. Nickel, copper, and cobalt grades were first analysed by a 4-acid digestion and ICP AES (ME-MS61). Grades reporting greater than 0.25% Ni and/or 0.1% Cu, using ME-MS61, trigger a sodium peroxide fusion with ICP-AES finish (ICP81). Platinum, palladium and gold are initially analyzed by a 50g fire assay with an ICP-MS finish (PGM-MS24). Any samples reporting >1g/t Pt or Pd trigger an over-limit analysis by ICP-AES finish (PGM-ICP27) and any samples reporting >1g/t Au trigger an over-limit analysis by AAS (Au-AA26).
NiEq% = Ni%+ Cu% x $3.00/$8.00 + Co% x $12.00/$8.00 + Pt [g/t]/31.103 x $1,300/$8.00/22.04 + Pd [g/t]/31.103 x $700/$8.00/22.04 + Au [g/t]/31.103 x $1,200/$8.00/22.04
CuEq% = Cu%+ Ni% x $8.00/$3.00 + Co% x $12.00/$3.00 + Pt [g/t]/31.103 x $1,300/$3.00/22.04 + Pd [g/t]/31.103 x $700/$3.00/22.04 + Au [g/t]/31.103 x $1,200/$3.00/22.04
No adjustments were made for recovery or payability.
QUALITY ASSURANCE, QUALITY CONTROL AND QUALIFIED PERSONS
Please see the technical report entitled "NI 43-101 Technical Report Updated Preliminary Economic Assessment (PEA) #3 of the Tamarack North Project - Tamarack, Minnesota" with an effective date of January 8, 2021 prepared by independent "Qualified Persons" (as that term is defined in National Instrument 43-101 ("NI 43-101") Leslie Correia (Pr. Eng), Andre-Francois Gravel (P. Eng.), Tim Fletcher (P. Eng.), Daniel Gagnon (P. Eng.), David Ritchie (P. Eng.), Oliver Peters (P. Eng.), Volodymyr Liskovych (P.Eng.), Andrea Martin (P. E.) and Brian Thomas (P. Geo.) for information on the QA/QC, analytical and testing procedures at the Tamarack Project. Copies are available on the Company's website (www.talonmetals.com) or on SEDAR at (www.sedar.com). The laboratory used is ALS Minerals who is independent of the Company.
Lengths are drill intersections and not necessarily true widths. True widths cannot be consistently calculated for comparison purposes between holes because of the irregular shapes of the mineralized zones. Drill intersections have been independently selected by Talon. Drill composites have been independently calculated by Talon. The geological interpretations in this news release are solely those of the Company. The locations and distances highlighted on all maps in this news release are approximate.
Dr. Etienne Dinel, Vice President, Geology of Talon, is a Qualified Person within the meaning of NI 43-101. Dr. Dinel is satisfied that the analytical and testing procedures used are standard industry operating procedures and methodologies, and he has reviewed, approved and verified the technical information disclosed in this news release, including sampling, analytical and test data underlying the technical information.
Where used in this news release:
NiEq% = Ni%+ Cu% x $3.00/$8.00 + Co% x $12.00/$8.00 + Pt [g/t]/31.103 x $1,300/$8.00/22.04 + Pd [g/t]/31.103 x $700/$8.00/22.04 + Au [g/t]/31.103 x $1,200/$8.00/22.04
CuEq% = Cu%+ Ni% x $8.00/$3.00 + Co% x $12.00/$3.00 + Pt [g/t]/31.103 x $1,300/$3.00/22.04 + Pd [g/t]/31.103 x $700/$3.00/22.04 + Au [g/t]/31.103 x $1,200/$3.00/22.04
Talon is a TSX-listed base metals company in a joint venture with Rio Tinto on the high-grade Tamarack Nickel-Copper-Cobalt Project located in central Minnesota. Talon's shares are also traded in the US over the OTC market under the symbol TLOFF. The Tamarack Nickel Project comprises a large land position (18km of strike length) with high-grade intercepts outside the current resource area. Talon has an earn-in right to acquire up to 60% of the Tamarack Nickel Project, and currently owns 51%. Talon is focused on (i) expanding and infilling its current high-grade nickel mineralization resource prepared in accordance with NI 43-101 to shape a mine plan for submission to Minnesota regulators, (ii) following up on additional high-grade nickel mineralization in the Tamarack Intrusive Complex, and (iii) exploring the prospects for significant carbon storage in the ultra-mafic rocks that comprise the Tamarack Intrusive Complex through carbon mineralization. Talon has an agreement with Tesla Inc. to supply it with 75,000 metric tonnes (165 million lbs) of nickel in concentrate (and certain by-products, including cobalt and iron) from the Tamarack Nickel Project over an estimated six-year period once commercial production is achieved. Talon has well-qualified experienced exploration, mine development, external affairs and mine permitting teams.
For additional information on Talon, please visit the Company's website at www.talonmetals.com or contact:
Todd Malan 1 (202) 714-8187 malan@talonmetals.com
Sean Werger 1 (416) 361-9636 x102 werger@talonmetals.com
This news release contains certain "forward-looking statements". All statements, other than statements of historical fact that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to the Company. Such forward-looking statements include statements relating to the timing and results of the exploration program, including mineralization, assay results, grades, geophysical results and drilling plans; the timing and extent of an expansion of the resource at the Tamarack Nickel Project; the timing and results of a feasibility study; and the goal of first production in 2026. Forward-looking statements are subject to significant risks and uncertainties and other factors that could cause the actual results to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company.
Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/136305
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Hole GR-17 intercepted 303 metres of mineralisation including 8.1 metres of 1.00% nickel, 0.81% copper and 1.13 gpt palladium
Hole GR-15 intercepted 199 metres of mineralisation including 8.5 metres of 0.86% nickel, 0.86% copper and 1.00 gpt palladium
Montréal, Quebec TheNewswire - Sept 07, 2022 Sama Resources Inc. ("Sama" or the "Company") (TSXV:SME ) ( OTC:SAMMF) is pleased to announce the assay results from additional drilling from the 2021-22 drilling campaign at the Grata Nickel–Copper–Palladium prospect. To date, Sama has drilled a total of 64 drill holes totalling 15,924 metres at the project in 2022 with 45 drill holes totalling 14,995 metres at Grata alone. The assay results for holes GR-12 to GR-19b are summarized in this release, remaining results are pending.
15,924 metres in 64 holes drilled to date at the Samapleu-Grata-Yepleu deposits
Mineralised intersections are up to 303 metres in thickness from surface.
Results confirm mineralisation over 850 metres of strike
Assays results are pending for 22 remaining Grata drill holes
Detailed metallurgical studies on Grata material are ongoing
"Given our successful drill efforts to date at the Grata discovery, we are expecting to enhance our mineral resources for the entire project. Today's results continue to demonstrate the upside potential of the Grata deposit but also for the entire property" stated Dr. Marc-Antoine Audet, President & CEO of Sama Resources Inc.
Mr. Audet added: "We will continue exploring the Grata prospect for massive sulphide lenses and accumulations within this large feeder zone of the Yacouba ultramafic-mafic intrusive complex while pursuing multiple other promising targets within the Samapleu-Yepleu exploration area that have been totally unexplored.
Assays results for 9 holes (GR-12 to GR-19b) drilled in Q1 2022 are presented in Table 1 . All measurements are core lengths and may not represent true geological widths.
Table 1: Summary of 2021-22 drilling program at Grata . Results for GR-12 to GR-19b using a cut-of-grade of 0.1% nickel.
Grata: Latest discovery in the Yacouba Ultramafic-Mafic ("UM") Intrusive Complex
In September 2021, Sama announced the Grata discovery located 5 kilometres east of the Samapleu deposit ( Figure 1 ).
The discovery hole, GR-03 ( Figure 2 ), drilled in June 2021, returned a 310-metre sequence of pyroxenite and gabbro containing a 147-metre interval of disseminated sulfides and several intersections of semi-massive sulphide mineralisation. The second hole, GR-04, confirmed the width of the mineralised zone with a 141-metre mineralised intersection including 6.4 metres("m") grading 1.05% nickel ("Ni") , 1.28% copper ("Cu") and 0.48 grams per tonnes (" gpt") palladium ("Pd") and 6.6 m grading 0.73% Ni, 0.38% Cu and 0.30 gpt Pd.
This release discloses mineralised intersections ranging from 134 m (GR-16) to 303 m (GR-17). Hole GR-17 returned a combined 303 m of mineralised material, including 8.1 m grading 1.00% Ni, 0.81% Cu and 1.13 gpt of Pd and 2.8 m at 0.93% Ni, 0.74% Cu and 1.10 gpt Pd. Hole GR-12 intersected a combined 239 m of mineralised material grading 0.30% Ni including 8.5 m at 0.86% Ni, 0.79% Cu and 1.0 gpt Pd. Hole GR-15 intersected a combined 199 m grading 0.30% Ni and 0.30% Cu including 3.4 m at 1.48% Ni, 1.85% Cu and 2.11 gpt Pd.
The mineralisation at Grata is similar in composition to the Samapleu deposit (" Samapleu ") but shows a higher proportion of chalcopyrite.
Sama's goal is to increase mineral resources at Samapleu and Grata as well as searching for massive sulphide veins and lenses that could have accumulated at depth in traps and embayments along the feeder system of the Yacouba UM Intrusive Complex.
Click Image To View Full Size
Figure 1: Newly discovered zone at Grata is located 5 km east of Samapleu, Image displays current and historic drilling. A total of 15 additional holes for 3,111 metres were drilled.
Click Image To View Full Size
Figure 2: Surface layout for the 45 holes drilled at the Grata property. Current mineralisation is extending over a strike length of 850 metres, open on both ends. The depth extension of mineralisation exceeds 400 metres from surface.
Click Image To View Full Size
Figure 3: Cross-section SW-NE at Grata showing the interpreted subvertical mineralised horizons. Assay results for 28 holes out of the 45 holes drilled to date, are still pending.
Co re logging and sampling was performed at Sama's Samapleu and Yepleu field facilities. Sample preparation was conducted at the Bureau Veritas Mineral Laboratory in Abidjan, Ivory Coast . Sample pulps were delivered to Activation Laboratories Ltd, Ancaster and Thunder Bay, Ontario, Canada, for assaying. All samples were assayed for Ni, Cu, Co, Pt, Pd, Au, Fe and S.
The technical information in this release has been reviewed and approved by Dr. Marc-Antoine Audet, Ph.D Geology, P.Geo and President and CEO of Sama, and a ‘qualified person', as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.
Sama is a Canadian-based , growth-oriented resource company focused on exploring the Samapleu Nickel– Copper project in Ivory Coast, West Africa. The Company is managed by experienced industry professionals with a strong track record of discovery. Sama, is committed to develop and exploit the Samapleu Ni-Cu and Platinum Group of Elements Resources.
Sama's projects are located approximately 600 km northwest of Abidjan in Côte d'Ivoire and straddle both sides of the Ivorian and Guinean borders in West Africa. Sama's projects are located adjacent to the large world-class nickel-cobalt laterite deposits of Sipilou and Foungouesso forming a 125 km long new Base Metal Camp in West Africa.
Sama owns 70% interest in the Ivory Coast project with its joint venture partner Ivanhoe Electric owning 30%. Ivanhoe Electric has the option to purchase up to a 60% interest in the project. For more information about Sama, please visit Sama's website at www.samaresources.com .
Ivanhoe Electric (NYSE American: IE, TSX: IE), is an American technology and mineral exploration company that is re-inventing mining for the electrification of everything by combining advanced mineral exploration technologies, renewable energy storage solutions and electric metals projects predominantly located in the United States.
FOR FURTHER INFORMATION, PLEASE CONTACT:
SAMA RESOURCES INC./RESSOURCES SAMA INC.
Dr. Marc-Antoine Audet, President and CEO
Mr. Matt Johnston, Corporate Development Advisor
Certain of the statements made and information contained herein are "forward-looking statements" or "forward-looking information" within the meaning of Canadian securities legislation. Forward-looking statements and forward-looking information such as "will", could", "expect", "estimate", "evidence", "potential", "appears", "seems", "suggest", are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements or forward-looking information, including, without limitation, the ability of the company to convert resources in reserves, its ability to see through the next phase of development on the project, its ability to produce a pre-feasibility study or a feasibility study regarding the project, its ability to execute on its development plans in terms of metallurgy or exploration, the availability of financing for activities, risks and uncertainties relating to the interpretation of drill results and the estimation of mineral resources and reserves, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development or mining results will not be consistent with the Company's expectations, metal price fluctuations, environmental and regulatory requirements, availability of permits, escalating costs of remediation and mitigation, risk of title loss, the effects of accidents, equipment breakdowns, labour disputes or other unanticipated difficulties with or interruptions in exploration or development, the potential for delays in exploration or development activities, the inherent uncertainty of cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, expectations and beliefs of management and other risks and uncertainties.
In addition, forward-looking statements and forward-looking information are based on various assumptions. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information or forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements or forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
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The securities of Rafaella Resources Ltd (‘RFR’) will be placed in trading halt at the request of RFR, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Wednesday, 7 September 2022 or when the announcement is released to the market.
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This article includes content from Rafaella Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Auroch Minerals Limited (ASX:AOU) (Auroch or the Company) is pleased to announce that a JORC (2012) Mineral Resource Estimate (MRE) for the known shallow nickel mineralisation only (above 290mRL) has been successfully completed at the Nepean Nickel Project (Nepean; Auroch Minerals 80%; Lodestar Minerals 20%) in Western Australia.
Note: Rounding may cause some computational discrepancies
The JORC (2012) MRE for the shallow nickel mineralisation at the Nepean Nickel Project is based on both historic drill-holes and drill-holes completed by the Company in 2021. The MRE was limited to above the 290mRL (i.e. from surface down to ~120m below surface) and incorporates much of the crown pillar of the historic Nepean underground nickel mine. Importantly, the significant high-grade nickel sulphide mineralisation that exists below the 290mRL has not been included in this MRE.
Auroch Managing Director Aidan Platel commented:
“We are very pleased with the JORC (2012) MRE for the shallow nickel mineralisation at the Nepean Nickel Project. Whilst we know there exists significant high-grade nickel sulphide mineralisation at depth in and around the historic underground mine workings, we are currently focussed on the shallow nickel mineralisation above and around the old mine that could potentially be mined in an open-pit scenario.
Earlier this year we completed metallurgical testwork that confirmed the shallow nickel sulphide mineralisation is amenable to traditional beneficiation techniques for Kambalda-style nickel sulphides.2 Now that we have successfully modelled this small but significant shallow nickel resource, we can commence mine studies and design as part of the Nepean Scoping Study that will assess the potential to fast-track the project towards development and production from a future open pit mining scenario.
We are also pleased to commence exploration drilling at Nepean early next week. The IP target that aligns with the footwall of a high-Mg ultramafic is a high priority nickel sulphide target that we look forward to drill testing, and we will keep the market updated with results as they come to hand.”
As announced in April 2022, the Company has successfully completed metallurgical testwork on the shallow nickel sulphide mineralisation.2 Three composite samples with initial head assay grades ranging between 1.21% Ni to 7.18% Ni were tested, with all three samples returning good nickel recoveries (85 - 94%) and saleable concentrate grades in excess of 13% Ni. The metallurgical test results highlighted the possibility of generating early cash flow from an open-pit mine scenario and was the catalyst to undertake the completion of the shallow JORC (2012) MRE and associated Nepean Scoping Study.
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This article includes content from Auroch Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Garibaldi Resources Corp is a Canada based exploration stage company. It is engaged in the acquisition, exploration, and evaluation of mineral properties. The company's projects in Mexico include the La Patilla, King projects, the Red Lion project, the Grizzly project, the Tora Tora project, Golden Bear, and the Black Gold project, among others.
Blackstone Minerals Limited “Blackstone” or the “Company”) is pleased to provide an update on our ongoing metallurgical test work programmes for both the Ta Khoa Nickel Project (“TKN” or “Upstream Project”) and the Ta Khoa Refinery Project (“TKR” or “Downstream Project”) during their respective Definitive Feasibility Study (“DFS”) phases.
In October 2021, Blackstone announced the appointment of Tier 1 engineering, minerals processing and metallurgical consultants Wood and ALS to perform critical roles in the delivery of the TKR DFS. With the support of Wood’s expertise in hydrometallurgical flowsheet development and ALS’ expertise in metallurgical laboratory testing and continuous integrated flowsheet piloting, Blackstone is pleased to announce the following test work updates:
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