Metals X Releases Nifty Resource Update

Metals X (ASX:MLX) has released an updated Mineral Resource estimate for its underground sulfide deposit at its Nifty copper project in the East Pilbara region of Western Australia.

As highlighted in the press release:

• 10 percent increase (52,900 tonnes of copper) in contained sulfide copper (net of depletion) in the mineral resource at the Nifty underground mine, delineated from an additional 309 diamond drill holes for 29,764 metres
• Total Nifty sulfide measured, indicated and inferred resource (cut-off grade of 0.75 percent copper) of 39.66Mt at 1.51 percent copper for 598,500 tonnes of contained copper
• 10 percent increase in measured mineral resources which now stand at 25.09Mt at 1.70 percent copper for 426,700 tonnes of contained copper
• Mineral resource estimate based on a revised geological model for the Nifty deposit which has allowed for improved resolution of geological detail within the mineralized horizons
• Total combined Nifty sulfide and oxide measured, indicated and inferred mineral resources of 47.29Mt at 1.39 percent copper for 658,500 tonnes of contained copper

Chairman of Metals X, Patrick O’Connor said:

“Metals X in the last nine months of 2019 invested $4.1 million in underground drilling at the Nifty Copper Mine which resulted in a 10% increase in contained sulphide copper metal to now report a combined total Measured, Indicated and Inferred Mineral Resource of 658,500 tonnes of copper.

Nifty has a large copper endowment, impressive exploration potential and production-ready infrastructure that provides excellent leverage to any improvements in copper prices.”

Click here to read the full Metals X (ASX:MLX) press release.