OVERVIEW
Malachite obtained shareholder approval at an Extraordinary General Meeting on
Mining One Pty Ltd (
A near term Jejovo Exploration Target has been generated in the range of 4.9Mt to 6.6Mt at 1.4% Ni to 1.6% Ni within all domains (Saprolite, Transitional and Limonite). This Target range reflects a potential quantity and grade for Jejevo and is conceptual in nature only as there has been insufficient exploration to estimate a Mineral Resource. It is uncertain if further exploration will result in the estimation of a Mineral Resource.
This Target range has been determined by
Drilling equipment is now scheduled to arrive at the Jejovo project area this week. Drilling is expected to commence in the coming weeks with a 64-hole program (approx. 1,300m).
The initial drill program is designed to enhance the geological understanding of Jejevo and provide confirmatory results to allow preparation of a JORC compliant mineral resource estimate.
Significant historical drilling intercepts include2: JSC030: 13m @ 2.04% Ni from surface, including 11m @ 2.18% Ni from 2m
JSD049: 9m @ 1.98% Ni from 1m, including 6m @ 2.26% Ni from 2m
JSD062: 12m @ 1.93% Ni from surface, including 9m @ 2.04% Ni from 3m
NEAR TERM EXPLORATION TARGET AT JEJEVO
The current drill program has been designed by
Historical drilling by Sumitomo Metals and Mining for the Jejevo area comprised 413 individual drill holes drilled down to a 50m x 50m spaced grid in places. The drilling methods used included diamond coring and hand auger with the majority of these holes (338) being diamond core drilled between 2012 and 2013.
Mining One Consultants validated the drilling data available within the Jejevo project area and used this data to create lithological surface models for the base of saprolite, base of transitional, base of limonite and the base of the Fecap/Overburden domains. The drilling data assays were then used via creation of 1m composite files to assign nickel grades to the blocks in the block model using ordinary kriging. Densities were assigned based on historical records reported by
The near term exploration target is estimated based on actual nickel assay grades from historical drilling data and the tonnages calculated within the 3D block model from volumes. A work program is currently underway with the aim of achieving JORC 2012 compliance for the Jejevo deposit. Data currently being collected from new drilling includes twin drillholes and infill holes to enable adequate QAQC support for the drilling dataset, collection of additional density measurements and analysis for the full suite of relevant nickel laterite suite elements.
The near term Exploration Target within the Jejevo project area is in the range of 4.9Mt to 6.6Mt at 1.4% Ni to 1.6% Ni within all domains (Saprolite, Transitional and Limonite). This Target range reflects a potential quantity and grade for Jejevo and is conceptual in nature only as there has been insufficient exploration to estimate a Mineral Resource. It is uncertain if further exploration will result in the estimation of a Mineral Resource.
COMMENCEMENT OF DRILLING AT THE JEJEVO NICKEL PROJECT
The current drill program will utilise drilling rigs that were previously used on the tenement by Sumitomo Metals and Mining which were recently acquired by the Company.
The initial 64-hole drill program at Jejevo will consist of 25 holes for confirmatory (twin hole) purposes (395m), 15 holes for infill (306m) and 24 holes for new exploration (600m). Following completion of the initial 25 confirmatory holes and receipt of assays, the Company expects to be in a position to provide a JORC (2012) mineral resource estimate for the
REGIONAL EXPLORATION AT THE JEJEVO NICKEL PROJECT
As previously reported, there are also targets for future exploration programs that exist on ridges to the east and west of the currently defined Jejevo deposit 3 . Further work including field inspections is required to rank these target areas prior to commencement of step out drilling programs.
THE JEJEVO NICKEL PROJECT - BACKGROUND
The Company owns
IMPACT OF COVID-19 ON ACTIVITIES
The Company has engaged local geologists and environmental scientists in the
Contact:
Mr.
Email: info@malachite.com.au
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