- A-Cap Energy (ACB) upgrades the mineral resource estimate (MRE) at the Wilconi nickel-cobalt project in Western Australia
- The upgrade was completed by independent geological resource specialists Mining Plus who were commissioned to use both historical and recent drilling data
- This work confirmed a nickel-cobalt resource of 90 million tonnes as well as 660,000 tonnes of contained nickel and 46,400 tonnes of contained cobalt
- A-Cap is up 4.17 per cent on the market with shares trading at 12.5 cents
A-Cap Energy (ACB) has upgraded the mineral resource estimate (MRE) at the Wilconi nickel-cobalt project near Wiluna in Western Australia, 700km north-east of Perth.
The upgrade was completed by independent geological resource specialists Mining Plus who were commissioned to use both historical and recent drilling data.
This work confirmed a nickel-cobalt resource of 90 million tonnes at a 0.5 per cent nickel cut-off grade as well as 660,000 tonnes of contained nickel and 46,400 tonnes of contained cobalt.
Around 32 per cent, or 29 million tonnes, of the MRE is classified as indicated.
The MRE was upgraded using data from historical and recent drilling with the project having been explored for more than 50 years by the likes of Delhi Australian Petroleum, Wiluna Mines and Trig Mineral Exploration.
Reverse circulation (RC) drilling by A-Cap in 2019 twinned the historical RC holes and confirmed the original results.
Notably, all drill chip and core logging is of high quality and was completed by experienced field geologists and personnel.
“The recent resource work has moved a good proportion of the Wilconi resource to indicated status. Ongoing metallurgical work and infill drilling will continue to add value to this project,” Chairman Jiandong He said.
A-Cap was up 4.17 per cent on the market with shares trading at 12.5 cents at 1:03pm AEDT.