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- Aston Minerals (ASO) releases a maiden mineral resource estimate for the Boomerang nickel-cobalt sulphide system at its Edleston project in Canada
- The resource measures 1.04 billion tonnes at 0.27 per cent nickel and 0.011 per cent cobalt, or 30 per cent nickel equivalent
- This means the project’s resource estimate contains roughly 2.82 million tonnes of nickel and 115,000 tonnes of cobalt
- Aston says future exploration programs will aim to increase the higher-grade portions of the resource and convert ‘inferred’ resources to ‘indicated’ resources
- Aston Minerals shares closed 13.64 per cent higher at 10 cents per share on Tuesday afternoon
Aston Minerals (ASO) has released a maiden mineral resource estimate (MRE) for the Boomerang nickel-cobalt sulphide system at its Edleston project in Canada.
The resource is based on 62 diamond holes, for 28,000 metres, completed across the entire Boomerang system. This drilling work was completed in October last year.
The MRE measures 1.04 billion tonnes at 0.27 per cent nickel and 0.011 per cent cobalt, or 30 per cent nickel equivalent
This means the project’s resource estimate contains roughly 2.82 million tonnes of nickel and 115,000 tonnes of cobalt.
“Boomerang still has incredible growth potential at depth, and our geophysical surveys have identified numerous other lookalike targets on our tenements which are yet to be tested by drilling,” Aston Managing Director Dale Ginn said.
The Edleston project lies in a favourable mining jurisdiction and holds an extensive history of large-scale open pit and underground mining operations.
Aston Executive Chairman Tolga Kumova said finding and defining such a “gigantic” nickel-cobalt sulphide resource within 18 months was an “incredible” achievement for the company.
“Future exploration programs will aim to increase the higher grade portions of the resource from target areas and to convert inferred resources to indicated resources,” Mr Kumova said.
Aston Minerals shares closed 13.64 per cent higher at 10 cents per share on Tuesday afternoon.
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