Updated Sabre Resource Delivers 72% Increase, with Total Fisher East Resources now up to 134.1 Kt Contained Nickel Highlights
• Cannon delivers a 72% lift in resource at Sabre.
• The JORC 2012 Mineral Resource for the Sabre deposit at Fisher East now stands at 2.9 Mt @ 1.5% Ni for 42.3 Kt contained nickel.
• PGE also estimated for the first time at Sabre. The resource contains a total PGE (Pd+Pt) grade of 0.4 g/t for 32,800 oz (Pd+Pt).
• Sabre resource drilled over a strike length of 670 metres and to a maximum depth of 300 metres. Mineralisation is open laterally and down plunge.
• Recently reported hole (MFED122) is some 520 metres below the base of the current Sabre resource and indicates that the channel mineralisation is still present at depth.
• Fisher East Project now contains 134,100 t of contained nickel at an average grade of 1.8% Ni across 4 deposits – Musket, Camelwood, Cannonball, and Sabre with mineralisation at each still open.
• Cannon has defined 56.1 Kt of new Ni resource in the past 12 months since listing at a discovery cost of $104 per tonne Ni.
• Nickel resource estimates published by Cannon have been independently reviewed by leading resource consultancy RPMGlobal.
Nickel currently at US$23,212 per tonne
CNR Price at posting:
35.3¢ Sentiment: Buy Disclosure: Held
