- Resource Mining (RMI) has begun field work activities at its Kabulwanyele Nickel Project (KNP) which is located in Mpanda district, Tanzania
- While the recently acquired project has seen limited exploration, it’s known to host nickel and cobalt laterite mineralisation
- Field work will include soil and rock sampling and geological mapping which will test the extent of mineralisation and potentially generate drill targets
- Company shares are up 40 per cent and are trading at 2.1 cents
Resource Mining (RMI) has kicked off an exploration program at its Kabulwanyele Nickel Project (KNP) which is located in Mpanda district, Tanzania.
The KNP comprises two granted prospecting licences and covers approximately 20.5 square kilometres.
While the recently acquired project has seen limited exploration and no modern exploration, the ground is known to host nickel and cobalt laterite mineralisation.
In February this year, Resource Mining acquired 75 per cent of Australian company Eastern Nickel, which holds 99 per cent of the shares in Eastern Nickel Tanzania (ENT). ENT has a complete interest in the Kabulwanyele Nickel Project.
After completing initial desk work studies, the company’s exploration team has mobilised to the Tanzanian project to commence field work.
Specifically, Resource Mining is undertaking soil and rock sampling and geological mapping.
Under the program, 300 samples will be collected to study the extent of nickel and cobalt mineralisation.
Geological mapping will be conducted to test the boundaries of mineralisation, identify new areas of mineralisation and generate drilling targets.
Company shares are up 40 per cent and are trading at 2.1 cents at 3:26 pm AEST.