Resource Estimations
At present, the Project contains an existing JORC compliant internal high grade indicated cobalt and nickel oxide resource of 700,000 tonnes grading 0.50% cobalt and 1.20% nickel within a much larger inferred and indicated envelope of 8.4 million tonnes grading 0.20% cobalt and 0.65% nickel. The Barra infill drilling has confirmed the JORC compliant resource. Modeling of recent drilling results outlined above is expected to significantly expand the current resource. Resources are currently open along strike. The soft nature of the ore profile enables conversion of inferred and indicated resources to mine-able reserves at relatively low cost. It is estimated that the current tenement could host significantly more tonnes of cobalt and nickel oxide at similar resource grades with the potential for further high grade zones.
