Mincor Grows Australian Nickel Presence with Cassini Resource

- August 1st, 2018

A new indicated and inferred resource for Mincor’s Cassini prospect has boosted the mineral resource for the company’s Kambalda holdings to 118,000 tonnes of contained nickel.

ASX-listed Mincor Resources (ASX:MCR) has seen a significant mineral resource increase within its tenements in the Kambalda nickel district in Western Australia, putting out its first resource at the Cassini prospect.

The company released the results of a maiden indicated and inferred resource for Cassini on Wednesday (August 1), noting that it comes in at 550,000 tonnes at 3.4 percent nickel for 18,700 nickel tonnes. Of that amount, 93 percent is in the indicated category. 

The fresh results bring the measured, indicated and inferred resource for the company’s Kambalda holdings to 3.3 million tonnes at 3.6 percent percent nickel for 118,000 tonnes of contained nickel.


BRAND NEW! Take Advantage Of Silver On The Rise Before It's Too Late

Everything You Need To Watch The Dollars Come Pouring In!

According to Mincor, the Cassini deposit shares many geological characteristics with larger nickel mines located throughout the Kambalda area.

The new resource results have “laid the foundations” for a potential new mine in the region; a follow-up diamond drilling program is set to take place at the prospect later this month, accompanying ongoing regional exploration programs.

The company also plans to carry out programs to progress components like environmental surveys; that will allow it to fast track any potential mining license applications and permitting activities for Cassini. Meanwhile, preliminary mining studies have also begun to identify proper mining approaches and capital designs, along with startup production schedules and cost estimates.

“We are delighted with the initial size and quality of the Cassini resource, which represents a big step forward for our nickel growth strategy,” Mincor Managing Director Peter Muccilli said in a statement.

“The emerging mining and production opportunity at Cassini is one of several nickel work programs underway at Kambalda which we believe will result in a new era of nickel production in the district — positioning Mincor to take advantage of the forecast growth in nickel markets in the coming years.”

Mincor’s share price was up 4.05 percent at the end of Wednesday’s trading on the ASX, closing at AU$0.38 per share.

Don’t forget to follow us @INN_Resource for real-time updates!

Securities Disclosure: I, Olivia Da Silva, hold no direct investment interest in any company mentioned in this article.


Introducing Our NEW Gold Outlook Report

BURSTING With Exclusive Information Not Found Anywhere Else. Don't Get Left Behind!
Grab Your FREE Gold Report Today!

Get the latest Australia Investing stock information

Get the latest information about companies associated with Australia Investing Delivered directly to your inbox.

Australia Investing

Select None
Select All

Leave a Reply