Pacific Nickel preps for Kolosori project mining lease application
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Pacific Nickel has completed the first stage of infill drilling at its Kolosori direct shipping ore (DSO) nickel project on Isabel Island in the Solomon Islands.
A total of 83 holes were drilled, 11 for metallurgical test work and the other 72 designed to increase the confidence level of the current mineral resources in preparation for project development.
The next program is planned to start in the next week or so, with a further 150 holes required to continue infilling the existing mineral resource of 5.89 million tonnes at 1.55% nickel.
The next phase of drilling after this program will test for extensions to the mineral resource.
Pacific Nickel Mines (ASX:PNM) is happy with progress so far and is on track to lodge the mining lease and development consent documents for Kolosori in August.
Resindo Resources and Energy Group (Resindo) has completed a financial and technical study on the project in preparation for the lodgement of a mining lease application.
And the company has completed various activities (water sampling, ecology review) in preparation for lodging the environmental impact assessment (EIA) as part of the development consent.
“The completion of the initial drilling program and engineering studies are very positive for the development of the Kolosori project, and we remain on track to apply for the necessary mining and environmental licences next month,” CEO Geoff Hiller said.
The company expects that the core samples taken from the 11 metallurgical holes will provide valuable information for the marketing of its DSO product.
Essentially, technical information (such as moisture content) will be estimated and used for designing the materials handling systems from mining to stockpiling to exporting the DSO via barges and ships.
And Resindo has identified suitable areas for the wharf, stockpile and camp near to the Kolosori mineral resources – as well as providing the company with first pass capital and operating costs for the project.
This article was developed in collaboration with Pacific Nickel Mines, 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.