Wowo Gap Nickel
Latest News
- The 2007 exploration program has confirmed the nickel laterite resource at Wowo Gap which is comparable in size to other World Class Nickel Laterite Projects. The combination of diamond drilling and ground penetrating radar supports a JORC Compliant Resource Estimation of 200Mt @ 0.85% NI, 0.07% Co along a strike length of 6km.
- Further resource potential exists with a further 8km strike length remaining and yet to be drill tested. A wacker rig has commenced scout drilling of this area and will work towards the southern boundary of EL 1165 to assess the untested southern extents of the tenement.
- The completion of a Scoping Study demonstrates a very robust project with the preferred development option being the production of a mixed hydroxide concentrate via heap leaching providing an NPV range depending on importing acid or on site acid production of US$296 to US$608 million, with an IRR of between 20.3% to 23.7%
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