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- Neometals (NMT) has finished a two-year review of its Mt Edwards Nickel Project at Widgiemooltha in Western Australia’s goldfields region
- Following the review of eleven mineral resources, Neometals estimates there are over 160,000 tonnes of contained nickel across the deposits
- Nine of the resources were re-estimated using new and existing data, while the other two were deemed not to require re-estimating
- Shares closed at 55 cents on Tuesday, July 7, 2021
Neometals (NMT) has finished a two-year review of its Mt Edwards Nickel Project at Widgiemooltha in Western Australia’s goldfields region.
In 2019, the company began the review process, going over all available data including from government and third-party sources, to re-evaluate the mineral resource estimates.
This gave rise to a new, global mineral resource for the Mt Edwards Project of 162,560 tonnes of contained nickel, from 10.22 million tonnes of ore at an average grade of 1.6 per cent nickel.
The global resource comprises of the mineral resources for 11 deposits, nine of which have been re-estimated since November 2019 and another two that were deemed not to require re-estimating.
The most substantial resource at this stage is the Widgie Townsite which is modelled to contain 39,300 tonnes of nickel, followed by the McEwen Hangingwall with 26,110 tonnes of nickel.
Neometals acquired the Mt Edwards Project in 2018 and, while seeking to enhance existing discoveries, is looking to make new nickel discoveries.
The company holds a total of 36 mining tenements in the Widgiemooltha Dome, the southern part of the Norseman-Wiluna greenstone belt which has come to be known as a nickel-sulphide mining province.
Shares closed at 55 cents on Tuesday, July 7, 2021.
