Announcement Date: 2022-04-05
Announcement Type: Deposit Estimation
Announcement Code: JORC
Company name: Cannon Resources Ltd.
Project name: Fisher East
Location: Australia
Commodities: Nickel
Highlight: Updated Resource Estimate for Project
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Cannon Resources Limited (ASX: CNR) (“Cannon” or “the Company”) is pleased to announce that a maiden Mineral Resource has been completed for the Sabre prospect at the Company’s Fisher East Nickel Project. The Sabre Mineral Resource is 1.8 Mt @ 1.4% Ni for 24.5 Kt of contained nickel at a cut–off grade of 0.9% Ni (JORC 2012). The Fisher East Project now has a total of 116,300 tonnes of contained nickel in 4 high grade Class 1 JORC 2012 resources at Musket, Camelwood, Cannonball and Sabre. Sabre is a channelised komatiite hosted nickel deposit sharing the same genesis, mineralisation style and host stratigraphy as Cannon’s 3 other Fisher East nickel deposits of Musket, Camelwood, and Cannonball. Sabre is 6 km south of Musket and the 4 deposits are all located on an 8 km section of the basal komatiite/sediment contact on 100% Cannon tenure. The geological setting is Archaean channelised basal komatiite hosted mineralisation, bounded by hangingwall basaltic rocks and footwall felsic metasediments. Mineralisation consists of massive to semi-massive and disseminated nickel sulphide
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