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Estrella’s nickel gets a 5A grade

23 August 2022 10:10
The rig at ESR's Carr Boyd nickel project

Estrella Resources confirmation drilling has continued the trend of high grade nickel hits beneath the Spargoville 5A nickel mine accelerating towards development southwest of Kambalda in Western Australia.

Assays up to 10.21 per cent nickel with strong widths came alongside intersections of massive, semi-massive, and matrix sulphides at the open pit operation being prepared for an updated mineral resource.

Drilling at the 5A deposit has surpassed the company’s hopes since its Spargoville acquisition, with results coming back consistently higher than previous expeditions and advances in metallurgical technology holding potential to significantly increase economics for an existing 127 thousand tonne JORC resource.

 

ESR 5A Map

Aerial view of the Spargoville project and nearby infrastructure.

 

The company said it was expecting high grade returns, and planning to extract the bulk sample had moved forward considerably.

“I look forward to updating shareholders on how, where and when we are able to deliver these valuable nickel tonnes for processing as the company steps towards a profitable nickel operation,” managing director Chris Daws said.

“Outlook for nickel prices continue to look very favourable and now couldn’t be a better time to plan and develop a nickel mining operation.”

With the second last batch of assays returning strong, preparations for an updated resource are well underway with a definitive feasibility study planned for this year.

Significant results:

  • 6.80m @ 4.40% Ni from 66.2m including 1.76m @ 10.21% Ni
  • 4.05m @ 3.05% Ni from 76.9m including 1.28m @ 7.28% Ni
  • 3.0m @ 1.15% Ni from 23.3m including 2.0m @ 1.23% Ni
  • 19.0m 0.74% Ni from 36m including 3.3m @ 1.09% Ni

ESR’s Australian Stock Exchange-listed share price was trading at 1.7c today (10.01am UTC+ 8 hours).

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