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Carnavale Resources update on Grey Dam Ni-Co project

Mining News - Published on Wed, 06 Mar 2019

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Carnavale Resources announced a new Nickel and Cobalt Mineral Resource estimate at its 100% owned Grey Dam Project. The Ni-Co deposit is shallow and flat lying, with the laterite style mineralisation occurring from surface to approximately 50m depth. The project is located 80km east of Kalgoorlie, Western Australia with excellent local infrastructure including sealed roads, airport and mining related contract services. The laterite Ni-Co Mineral Resource estimate is based on 5,000m of infill and extensional reverse circulation drilling (85 holes) together with inter-laboratory check sampling and incorporating previous third party drilling (108 RC and 4 diamond holes). Approximately half of the deposit occurs on a granted mining lease (M28/378) with the remainder on Carnavale’s surrounding exploration licence E28/1477. The drilling was completed at 100m x 50m hole spacing with selected 50m infill sections providing strong continuity to the mineralisation.

Total Mineral Resource (JORC 2012), February 2019
Total - 14.6Mt @0.75% Ni and 0.049% Co for 110,000t Ni metal and 7,200t Co metal
Indicated - 10.4Mt @ 0.76% Ni and 0.050% Co for 78,700t Ni metal and 5,200t Co metal (71%)
Inferred - 4.2Mt @ 0.74% Ni and 0.047% Co for 31,300t Ni metal and 2,000t Co metal (29%)

(using >0.5% Ni or >0.05% Co cutoff)
> 71% in Indicated category.
> Shallow flat lying blanket of Ni-Co mineralisation
> 1.3km x 1.0km x 20-40m thick.
> Internal high grade Co blanket averaging 0.12% Co.
> Potential for simple open pit mining methods\

Mr Andy Beckwith, Managing Director, commented “Grey Dam is well located only one hour drive from Kalgoorlie. We have defined a high value shallow resource that should be readily amenable to an open pit mining strategy. Our next step is to assess metallurgy and deliver on a low cost processing strategy.”

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Posted By : Rabi Wangkhem on Wed, 06 Mar 2019
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