Mineral Resource – Savannah Project (May 2020)

  • Total contained metal in Mineral Resources at the Savannah Project stand at 209,800t Ni, 94,200t Cu and 13,700t Co contained metal, at grades of 1.56% Ni, 0.70% Cu and 0.10% Co
  • Savannah North contributes contained metal in Mineral Resources of 170,400t Ni, 71,100t Cu and 11,600t Co, broadly in line with the previous estimate,1 at grades of 1.55% Ni, 0.65% Cu and 0.11% Co
  • 112 infill fill grade control holes (23,481m) drilled in FY20 more than doubles the drilling density and increases the geometric confidence of the Savannah North ore body
  • More than 70% of the Savannah North Mineral Resource Estimate now classified as Measured & Indicated
  • The Savannah North Mineral Resource remains open to the east, west and down dip to the north
  • There is now greater than three times more nickel in Mineral Resources at Savannah than when mining first commenced in 20032

1 Contained metal in the previous Savannah North MRE was 175,100t Ni, 74,400t Cu and 12,700t Co, refer Company’s ASX announcement of 24 August 2016.
2 Refer Company’s ASX announcement of 10 January 2002.


Resource-to-Reserve Conversion Opportunities

  • In the Savannah North orebody, significant Inferred Resources sit adjacent to the current Ore Reserves and in close proximity to the planned underground workings
  • Savannah North only has a current Mineral Resource to Ore Reserve conversion rate of 55%, with additional drilling to occur as part of grade control in future years
  • In the Savannah orebody, an un-mined Mineral Resource of 14,900kt Ni sits below the 900 fault, which is down-plunge from the current workings

 

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