Pacific Nickel cracks on with stage 2 drilling at Kolosori project
Pacific Nickel Mines has started the second stage of infill drilling at its Kolosori nickel project on Isabel Island in the Solomon Islands.
A total of 151 holes are planned as part of pre-development activities this year, with the goal of stage 2 to increase the confidence of the existing mineral resource.
“With the lodgement of our mining lease application for the Kolosori Nickel Project, we are now focusing on pre-development works,” Pacific Nickel Mines (ASX:PNM) CEO Geoff Hiller said.
“A key component of this is infill drilling.
“With a mineral resource of 5.89Mt at 1.55% nickel already identified, this infill drilling will seek to increase the confidence of our current mineral resource estimate by identifying more resources in at least the indicated resource category.”
Samples from the first stage (83 holes) are currently in Brisbane awaiting irradiation as part of the Australian customs protocol prior to assaying.
The company expects the core samples from the 11 metallurgical holes in the first stage will provide metallurgical information needed in marketing the DSO product.
Technical information such as moisture content will be estimated from core samples and used for designing the materials handling systems from mining to stockpiling and to exporting the DSO via barges and ships.
The company expects the drilling will be completed in November, with the third phase to follow to test for extension to the resource.
Plus, the drilling will allow detailed mine planning and reserve assessments in support of the proposed project financing.
“We acknowledge the tremendous work of our local geologists and drilling contractors who have been instrumental in progressing the project thus far,” Hiller said.
“We look forward to a similar approach of using the local workforce as we advance development of the project.”
This article was developed in collaboration with Pacific Nickel Mines Limited, 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.