First 2 of 25 pages.,,,, preview...28 April 2023 March 2023...

First 2 of 25 pages.,,,, preview...

28 April 2023 March 2023 Quarterly Report
Highlights
• Substantial positive progress made across both the lithium and nickel assets at the Mt Edwards Project, with a maiden lithium resource declared and the subsequent DSO/offtake opportunity firming up, as well as nickel exploration success positioning the nickel Mineral Resource to be on the cusp of further high-grade growth.
Lithium
• The balance of assays received from maiden drill program confirmed the consistent presence of shallow lithium-bearing pegmatite at the Faraday deposit
• Widgie subsequently declared the maiden independent Faraday lithium Mineral Resource Estimate (MRE) of 481,000t @ 0.59% Li2O (@ 0.30% Li2O cut-off) in the Starter Pit location, defined to a maximum depth of 65m
• The Faraday Direct Shipped Ore (DSO) starter pit is expected to be production ready in the second half of 2023, with significant additional lithium growth potential via both Faraday expansion and exploration potential across Widgie’s wider tenure.

Nickel
• Gillett Mineral Resource expanded by 20% to 1.56 million tonnes at 1.5% nickel for 23,400 tonnes contained nickel between 80 and 350 metres below surface
• Further growth anticipated, with significant nickel mineralisation confirmed outside of the current Gillett Resource as part of the Widgie South project area as announced post-Quarter
• Drilling is continuing to further expand the scale and confidence of the nickel mineralisation, prior to a Mineral
Resource upgrade targeted for completion in the second half of 2023
• Feasibility studies at Armstrong advancing well, with all preparation work for the Final Feasibility Study set to be finalised in the current quarter
Widgie Nickel Limited (ASX:WIN) (“Widgie” or “the Company”) is pleased to present its Quarterly Report for the period ended 31 March 2023.
Widgie Nickel Managing Director Steve Norregaard commented;
“The March quarter was an extraordinarily busy but fruitful period for Widgie as we enhanced our pipeline of value accretive opportunites across both lithium and nickel.
Our maiden lithium MRE at Faraday marked a major milestone and puts us in an exclusive group of just over a dozen mining companies with proven lithium resources in Australia. Faraday is ideal for the near-term DSO opportunity with its shallow dipping near surface and unconstrained attributes, and there is substantial further lithium growth potential ahead.

The scale and quality of our nickel resource base is also growing swiftly, with no signs of slowing down. After expanding the Gillett Deposit early in the March quarter, we have already confirmed the presence of significant nickel mineralisation outside of the current Gillett Resource and the broader
Widgie South Resource area.
It’s building towards a big year for Widgie.
As we continue to progress the vast nickel and lithium opportunity the Mt Edwards project presents
our investment proposition as the new force in the battery minerals space increases by the day.”
Cont to 25 pages
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