Announcement Date: 2022-05-17
Announcement Type: Deposit Estimation
Announcement Code: JORC
Company name: Corcel Plc
Project name: Wowo Gap
Location: Papua New Guinea
Commodities: Nickel,Cobalt
Highlight: Updated Resource Estimate for Project
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Corcel, the natural resource exploration and development company with interests in battery metals and flexible energy generation and storage, is pleased to announce the completion of a JORC mineral resource estimate at the Company’s recently acquired Wowo Gap nickel/cobalt project in Papua New Guinea (“PNG”), where the Company owns a 100% interest. The establishment of a JORC resource is a critical technical step in preparing the mining lease application, validates Corcel’s underlying rationale for the asset acquisition and confirms Wo Wo Gap as a similar size and grade deposit to the Company’s sister project at Mambare, also in PNG. Using a 0.7% nickel cut-off grade, the deposit is estimated to contain 110 million tonnes at 0.81% nickel (Ni) for 891,000 tonnes of contained Ni and 0.06% cobalt (Co) for 66,000 tonnes of contained Co. Tonnage is quoted on a dry basis. Table 1. Wowo Gap Mineral Resource estimate by lithology type and classification at 0.7% Ni cut-off.
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