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The potential for mine life extensions at Mincor’s Kambalda operations has been bolstered with the announcement of a maiden mineral resource estimate for its LNO4a surface within the “golden mile”.
Mincor told the ASX on Monday it had defined a high-grade indicated and inferred mineral resource of 576,000 tonnes at 3.9 per cent nickel for 22,600 tonnes.
The company said 71 per cent of the resource, 16,000t, was classified as indicated.
Mincor’s golden mile sits between the Long and Durkin North mines which are part of the wider northern operations, and the new mineral resource estimate raises global mineral resources for this part of Mincor’s operations to 90,000t of contained nickel.
The company said the LN04a surface remained open both up-dip and along strike as the surface extends along the golden mile towards Durkin North.
“Delineation of the upper portion and the up-dip strike extents will continue through the remainder of FY23, as the golden mile drilling program moves into its next phase,” the company said.
Mincor said it had started work on an initial ore reserve covering LN04a, targeted for release later this year, while continuing to explore and delineate an enlarged LN04a surface.
Mincor managing director David Southam said delineating 22,600t of contained nickel in what was only phase one of a significant drilling program on the golden mile spoke volumes for the potential to add significant nickel tonnes quickly and efficiently to the company’s operations.
“In just 13 months since starting drilling at the golden mile, we’ve been able to unlock the most significant new discovery since our initial Cassini discovery — and one of the more significant discoveries across the Kambalda district in recent memory — while at the same time increasing our global Long/Durkin North resource by 41 per cent,” he said.
“Geologists have long discussed the potential for the golden mile zone to host significant nickel resources, with this fantastic result representing an emphatic proof-of-concept of that theory.
“Having completed our return to the ranks of Australia’s nickel producers, this excellent result demonstrates the exciting growth pathway now in front of us as we continue to unlock the potential of the Kambalda district.”
Mincor last month received its first payment for its first parcel of nickel ore processed through BHP Nickel West’s Kambalda nickel concentrator.
The ore processing in May marked Mincor’s return to producer ranks after it shuttered its Kambalda operations in 2016 because of a sustained downturn in prices for the commodity, which was then used mostly in steelmaking.
The company on June 23 said the $25.3 million for the 1003 tonnes of nickel in concentrate represented sales receipts for 90 per cent of the payment calculated for ore deliveries up to May 31, with the balance to be paid in August.
