| Announcement Date: | 2022-10-18 |
|---|---|
| Announcement Type: | Deposit Estimation |
| Announcement Code: | JORC |
| Company name: | Estrella Resources Ltd. |
| Project name: | Spargoville |
| Location: | Australia |
| Commodities: | Copper,Nickel,Cobalt |
| Highlight: | Updated Resource Estimate for 5A Deposit |
| 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 an upgrade to the 5A Mineral Resource Estimate (MRE) at the Company’s Spargoville Nickel Project, located approximately 20km Southwest of Kambalda, Western Australia. The update takes into account recent metallurgical drilling below the existing 5A open pit conducted from May to July this year which assisted in defining mineralisation types and depths. The drilling also firmed up massive and matrix sulphide widths, mineralogy and bulk densities which are required to be well understood prior to mining. The updated MRE is presented below in Table 1. The upgrade in comparison to the 2019 MRE saw the bulk of tonnes shift into the Measured Resource in the area below the pit which Estrella is targeting for production. There was also an increase in the amount of Transitional material. Estrella is particularly focussed on the 16kt of Massive grading 7.8% Ni which lies below the pit floor and is accessible via a pit cut-back. The relative volumes of material are shown in Table 2 and Figure 1. |
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