Widgie Nickel flags resource growth opportunity off the back of latest high-grade Munda drilling results
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Widgie Nickel’s latest drilling campaign at the Munda nickel deposit, one of the 12 nickel deposits within the Mt Edwards project, has reinforced Munda as a complimentary satellite operation to the proposed Widgie South and Armstrong mining centres – which are both currently the subject of feasibility studies.
The results included:
The company also discovered basal nickel mineralisation 200m to the east of Munda with 6m at 0.81% Ni from 115m including 2m at 1.12% Ni from 115m (MERC259) which unlocks a significant search space for further Munda style mineralisation shoots to be discovered.
The drill data will now be used to update the Munda Mineral Resource Estimate (MRE) during the forthcoming half and assist with future resource and further exploration drilling.
The Munda mineral resource currently stands at 320kt at 2.2% Ni for 7,040t of contained nickel, and the infill drilling is aimed at increasing the confidence of the future resource re-estimate.
Given the existing significant nickel endowment of approximately 168kt of contained nickel (indicated and inferred resources) across the entire Widgie Nickel (ASX:WIN) portfolio, the company is confident Munda has potential to contribute to a larger scale, and/or longer life operation.
“As one of the initial resources identified for upgrading in confidence I am encouraged by these results,” managing director Steve Norregaard said.
These drilling results have also enabled WIN to reinterpret the Munda geology model using 3D implicit modelling techniques, which has resulted in the definition of four mineralised shoots being identified upon the basal mafic contact.
“Tightening up our understanding of the mineralisation removes uncertainty and in the case of these results has provided a new geological interpretation, which alludes to the opportunity for resource growth,” Norregaard added.
This article was developed in collaboration with Widgie Nickel 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.