Resources
The resource estimate was undertaken by RMC geologists in Perth. The resource for Wowo Gap has been estimated using, 14 GPR profiles spaced on 400 metre lines across the resource area, 47 NQTT diamond holes drilled in 2007, 26 HQTT diamond holes and 70 wacker holes drilled in 2004.
The resource modelling using both an inverse distance squared and a nearest neighbour interpolation techniques to estimate the block model grades and tonnage resulted in an Inferred Mineral Resource of 200 million tonnes @ 0.85% Ni, 0.07% Co. The resource estimate have been prepared and classified in accordance with the Australasian Code for Reporting of Identified Mineral Resources and Ore Reserves (JORC, 2004). The resource estimate is reported using a lower cut off block grade of 0.5% Ni and a dry bulk density of 1.5t/m3.
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The decrease in the nickel grade in comparison to the 2006 estimate is due to the reporting of the resource based on the lower Ni cut-off grade of 0.5% as well as the inclusion of the core stones in this resource estimate, where as the grade from the 2006 estimate was calculated from the soft saprolite and limonite material only. Core stones are boulders of unweathered ultramafic rock which are common within the saprolite profile and typically range in grade between 0.25% to 0.35% Ni. The estimated volume of core stones within the lateritic profile is 36%, based on geological logging of the diamond core. Through simple beneficiation processes such as screening the course core stones from the finer clay material, it is probable that there will be a significant upgrade in the grade of the mined ore.
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