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Western Mines Group (ASX:WMG) has completed a maiden mineral resource estimate for the shallow disseminated nickel sulphide found in its Mulga Tank nickel-copper-cobalt platinum group elements project in Western Australia.
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The total resource is estimated at 1,968 million tonnes at 0.27% nickel, 131 parts per million cobalt, 82ppm copper, 17 parts per billion platinium+ palladium, and S:Ni 0.9.
Within this, WMG has reported an indicated resource of 565M tonnes grading 0.28% Ni, 134ppm Co, 104ppm Cu, and 18ppb Pt+Pd S:Ni 1.0; and an inferred resource of 1,403 million tonnes grading 0.27% Ni, 129ppm Co, 73ppm Cu, 17ppb Pt+Pd S:Ni 0.9.
“This is a very significant milestone for both the project and the Company and my thanks and congratulations go to the entire exploration team for the progress achieved over the last three years,” managing director Dr Caedmon Marriott said.
“Our exploration results from Mulga Tank have been continuously building as we unlock
knowledge of the complex and this mineral resource marks a culmination of that.”
This recently completed resource estimate shows Western Mines Group’s resource revolves around a large-scale nickel sulphide deposit which is amendable to open pit mining; in addition, the parameters of contained metal within the deposit are: 5.3Mt Ni, 257Kt Co, 161Kt Cu, and 1.1Moz Pt + Pd.
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“It demonstrates what we have long stated: The main body of the Complex hosts a globally significant nickel sulphide deposit, we believe the largest nickel sulphide deposit in Australia and top 10 in the world,” Dr Marriott explained.
WMG shares have been trading at 11.5 cents on Thursday.
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