| Announcement Date: | 2022-08-30 |
|---|---|
| Announcement Type: | Drilling Results |
| Announcement Code: | JORC |
| Company name: | Estrella Resources Ltd. |
| Project name: | Spargoville |
| Location: | Australia |
| Commodities: | Nickel |
| Highlight: | Drilling results incl. 8.03m @ 3.17% Ni from 61.0m |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | Estrella Resources Limited (ASX: ESR) (Estrella or the Company) is pleased to announce the receipt of assays for the final two resource and metallurgical diamond holes at the Company’s Spargoville Nickel Project 5A Mine, located approximately 20km Southwest of Kambalda, Western Australia. Both SPDD019 and SPDD020 returned very high grades from the northern and central portions of the deposit. With receipt of these assays, work on a new Resource Estimate can be finalised within a few weeks. Composite assays from the last holes are presented in Table 1 with the full assay listing in Table 3 at the end of this announcement. Compared to the previous Resource Estimate, the Company is expecting the amount of transitional material below the Open Pit to rise and the amount of Fresh material to fall. The Company is investigating the economics of two separate production streams for the Transitional and Fresh material which will feed into the Definitive Feasibility Study. The removal of drill water from the base of the open pit has been completed and cleaning up of the ramp and pit floor will commence within weeks. Removal of the bulk sample is expected to be completed in October. This sample of Transitional material will be tested at an alternative treatment facility to the Kambalda Concentrator and will be extending on successful bench-scale tests conducted in 2019. |
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