Wowo Gap
Nickel (Ni) and Cobalt (Co) are used in the production of stainless steel and this project is world class with a global resource estimate of 125 Million tonnes @ 1.06 per cent Ni and 0.07 per cent Co (reported at a 0.8 per cent Ni cutoff) based on drilling along the 12 kilometre strike length of the project.
In terms of geology, the project is located at the south eastern end of the Papuan Ultramafic Belt, a complex of peridotite and pyroxenite which form the prominent east-west trending Didana Range. The project area lies within an erosional regime of an east dipping lateritic profile developed over the underlying ultramafics. The lateritic profile is typically 10 metres thick and occasionally more than 20 metres along the Bereruma Fault.
In summary, it is a large resource, lies close to the surface and is of high quality.