| 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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