Norwest’s Marriott Nickel Project up for grabs after development tick of approval
Preliminary optimisation and economic work at the Marriot Nickel Project in the centre of Western Australia’s Leinster-Laverton nickel region confirms mining and toll treatment has potential for recovery of up to 5,900t of nickel.
The team at Norwest Minerals (ASX:NWM) has been busy cross-referencing a variety of optimizational studies at the project – now taking into account updated mining, transporting, and processing data of the near-surface Marriott nickel resource via a plant located within 70 km of the Marriott mining lease.
This work shows at current nickel prices (~US$13 to US$15 per pound) Marriott has the potential to recover around 5,900 tonnes of nickel.
The nickel play Norwest says discussions with prospective partners to explore near-term exploitation options, including a partnership or sale arrangement (to parties with processing capabilities or assets in the area), will kick off during the June quarter.
“The recent jump in nickel prices has significantly lifted the profile of our 100% owned Marriott nickel project to be a very attractive asset having near-term development potential,” Norwest CEO Charles Schaus said.
“We will soon commence discussions with parties interested in a toll treatment or purchase type arrangement.”
Back in late 2019, Hyland Geological and Mining Consultants (HGMC) were engaged to create a new Marriot block model and prepare a nickel resource estimate, which reported 584,000 tonnes at 1.18% nickel for 6,900 tonnes of contained nickel when applying a 0.7% Ni cut-of, complimented by significant metallurgical test work.
As it stands, the resource is defined by 79 vertical diamond drill holes completed in 2007 and no mining of the sub-outcropping deposit has been undertaken to date.
This article was developed in collaboration with Norwest Minerals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.