Announcement Date: 2022-07-25
Announcement Type: Deposit Estimation
Announcement Code: JORC
Company name: Mincor Resources NL
Project name: Kambalda
Location: Australia
Commodities: Nickel
Highlight: Initial Resource Estimate for Golden Mile
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Mincor Resources NL (ASX: MCR, “Mincor” or the “Company”) is pleased to report an initial JORC compliant Mineral Resource Estimate (MRE) for the LN04a Surface, located in the Golden Mile exploration zone between the Long and Durkin North Mines at its Northern Operations in Kambalda, Western Australia. The initial or “Phase 1” MRE for LN04a has defined a high-grade Indicated and Inferred Mineral Resource of 576,000 tonnes @ 3.9% Ni for 22,600 Ni tonnes. Importantly, 71% or ~16,000 Ni tonnes of the new Mineral Resource, is classified as Indicated, with the remaining 29% classified as Inferred. The completion of the Phase 1 LN04a MRE has resulted in a significant uplift in the overall Mineral Resource for the Northern Operations, increasing the existing Long/Durkin North Resources by 41% to 77,000 tonnes of contained nickel. Global Mineral Resources for the Northern Operations (all Resources) now stand at almost 90,000 tonnes of contained nickel. Importantly, the LN04a Surface remains open both up-dip and along strike as the surface extends along the Golden Mile towards Durkin North. Delineation of the upper portion and the up-dip strike extents will continue through the remainder of FY23, as the Golden Mile drilling program moves into its next phase.
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