AND HERE IT IS: REVIEW OF NICKEL MINERAL RESOURCES AT MT EDWARDS COMPLETE HIGHLIGHTS • Neometals completes review of 11 Nickel Mineral Resources across the Mt Edwards Project at Widgiemooltha; • Nine Mineral Resources have been re-estimated betweenNovember2019and June 2021 using new and existing data; • Assessment of Cooke and Widgie 3 Mineral Resources deemed that no re-estimation is required; and • Global contained nickel tonnes at the Mt Edwards Project now162,560 tonnes, from 10.220million tonnes at 1.6%Ni. Neometals Ltd (ASX: NMT) (“Neometals” or “the Company”) is pleased to announce completion of a review of all eleven nickel Mineral Resource estimates at its Mt Edwards Nickel Project (“Mt Edwards”). The review commenced mid-2019 with the first estimate completed on the Munda deposit in November 2019. Since this time Neometals has been progressively reviewing all available data, including government and third party sourced, to increase its understanding of Mt Edwards. The increase for the Mt Edwards 26N Mineral Resource announced 30 June 2021 is the last re-estimation considered necessary with the current information (for further details see Neometals ASX announcement titled “Updated 26 North Resource at Mt Edwards Increases by 51% dated 30 June 2021). An assessment of the Cooke1 and Widgie 32 Mineral Resources was completed by Richard Maddocks from Auralia Mining Consultants. In Mr Maddock’s assessment, the current estimates do not warrant reinterpretation given the available data. Table 1 – The reviewed Mt Edwards Project with 11 Nickel Mineral Resource estimates for 162,560 contained nickel tonnes. Indicated Inferred TOTAL Mineral Resources Deposit Tonne (kt) Nickel (%) Tonne (kt) Nickel (%) Tonne (kt) Nickel (%) Nickel Tonnes Widgie 32 626 1.5 626 1.5 9,160 Gillett5 1,306 1.7 1,306 1.7 22,500 Widgie Townsite9 1,183 1.7 1,293 1.5 2,476 1.6 39,300 Munda3 320 2.2 320 2.2 7,140 Mt Edwards 26N 871 1.4 871 1.4 12,400 132N6 34 2.9 426 1.9 460 2 9,050 Cooke 1 154 1.3 154 1.3 2,000 Armstrong4 526 2.1 107 2 633 2.1 13,200 McEwen8 1,133 1.4 1,133 1.4 15,340 McEwen Hangingwall8 1,916 1.4 1,916 1.4 26,110 Zabel7&8 272 1.9 53 2 325 2 6,360 TOTAL 2,015 1.9 8,205 1.5 10,220 1.6 162,560 Mineral Resources quoted using a 1% Ni block cut-off grade, except Munda at 1.5% Ni. Small discrepancies may occur due to rounding Note 1. refer announcement on the ASX: NMT 19 April 2018 titled -Mt Edwards JORC Code (2012 Edition) Mineral Resource 48,200 Nickel Tonnes Note 2. refer announcement on the ASX: NMT 25 June 2018 titled -Mt Edwards Project Mineral Resource Over 120,000 Nickel Tonnes Note 3. refer announcement on the ASX: NMT 13 November 2019 titled -Additional Nickel Mineral Resource at Mt Edwards Note 4. refer announcement on the ASX: NMT 16 April 2020 titled – 60% Increase in Armstrong Mineral Resource Note 5. refer announcement on the ASX: NMT 26 May 2020 titled – Increase in Mt Edwards Nickel Mineral Resource Note 6. refer announcement on the ASX: NMT 6October 2020 titled – 132 Nickel Mineral Resource and Exploration Update at Mt Edwards Note 7. refer announcement on the ASX: NMT 23 December 2020 - Zabel Nickel Mineral Resource Update at Mt Edwards Note 8. refer announcement on the ASX: NMT 29 June 2021–McEwen Resources at Mt Edwards Increase 45%to 41.5kt Contained Nickel Note 9. refer announcement on the ASX: NMT 29 June 2021 –Updated Widgie Townsite Nickel Mineral Resources at Mt Edwards Note 10. refer announcement on the ASX: NMT 30 June 2021–Updated 26 North Resources at Mt Edwards Increase by 51% CONT.. GLAH Mal...
NMT Price at posting:
52.5¢ Sentiment: Buy Disclosure: Held
