Mincor Resources gained 4.23 per cent today after announcing a 52 per cent increase in nickel produce at its Cassini deposit, in Kambalda, WA.
Average nickel grading in the 9,800 tonne increase is at a healthy 3.7 percent. The company now boasts an inventory of 128,600 tonnes of nickel at an average grade of 3.6 percent.
Mincor Managing Director David Southam says the project is showing massive sulphide deposits and drilling is increasing in speed.
“The program at Cassini has gained pace since we signed the game-changing offtake term sheet with BHP Nickel West on 19 March 2019, with our initial objective being to build a high-grade nickel resource inventory capable of supporting at least a 4-year mine plan.
“We also recently received the assay results from a small drilling program at Ken, and this has resulted in the addition of a further 900 nickel tonnes to the Mineral Resource,” said Southam.
Two diamond drill rigs are currently working on site. Extensional drilling will continue indefinitely. The company says the next update will be released near the end of the June quarter.