Announcement Date: 2022-11-16
Announcement Type: Deposit Estimation
Announcement Code: JORC
Company name: Rafaella Resources Ltd.
Project name: Horden Lake
Location: Canada
Commodities: Gold,Palladium,Copper,Nickel
Highlight: Initial Resource Estimate for Project
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Rafaella Resources Limited (ASX:RFR) (‘Rafaella’ or ‘the Company’) is pleased to announce the results of the recently completed JORC compliant resource estimation for the Horden Lake Cu-Ni-Pd-Au Deposit, located in the James Bay District, Province of Québec, Canada, carried out by Caracle Creek International Consulting Inc., as independent consultants. Table 1 shows the global total Mineral Resource Estimate (MRE) for the Horden Lake Deposit, as of 14 November 2022. CuEq parameters and recoveries were determined by assessing the metallurgical reports from INCO and from benchmarking with other polymetallic deposits and magmatic Ni-Cu projects with similar characteristics to the Horden Lake Deposit. The current MRE has produced a 3D geological model interpretation based on lithology and mineralisation style for the overall sulphide domain (Cu domain) and, particularly for the higher-grade Cu sub-domain corresponding to the semi-massive to massive sulphides, at the bottom of the deposit, resulting in a significant increase of tonnes and Cu average grade for the Horden Lake deposit.
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