DM1's ASX announcement "Significant PGE and Nickel Results from...

DM1's ASX announcement "Significant PGE and Nickel Results from Innouendy" on the 11th of November confirms very thick nickel in sulphides from surface and near surface. It isn't 2%+ which is considered high grade.

Given the Nickel Price has begun its upward tragectory and is sitting at $US26,000/tonne ($AUD38,800/tonne) grades above 0.4% Nickel and higher that are less than 60metre from surface are profitable, if DM1 was only drilling for Nickel at Innouendy.

52metres, from surface @ 0.29% Ni
88metres, from only 16metres from surface @ 0.19% Ni
64metres, from only 24metres from surface @ 0.27% Ni (including 8metres @ 0.57% Ni)
44metres, from only 20metres from surface @ 0.33% Ni (including 12metres @ 0.51% Ni)
21metres from only 12metres from surface@ 0.44% Ni (including 12metres @ 0.53% Ni)



The fact that Innouendy is a polymetal deposit (REEs, Nickel sulphides, PGEs, Cobalt & Chromium), meaning the high grade, high recovery thick REEs will pay for all the mining costs, and still generate very strong cashflows on its own.

Means that the NIckel (in sulphides) which sits in the same deposit as the REEs, will be mined as a secondary ore, with no cost, along with the for the PGEs, Chromium and Cobalt, which will also be mined as secondary ores at no cost.

All of the cost burden sits with the Primary Ore, the REEs.

That is the beauty of polymetal deposits like what DM1 has at Innouendy. I look forward to seeing the recoveries from the Nickel sulphides at Innouendy (Chalice's Julimar has 49% Nickel recoveries as their secondary ore after their PGEs in that polymetal deposit)

Significant-PGE-Intersection-at-the-Innouendy-Project.pdf (desertmetals.com.au)

We will continue to see demand for EVs and Grid Storage continue to surge, which means prices of Nickel Sulphides, PGEs, Rare Earths, Cobalt will continue to remain at or near all time record highs.

Once the CR is completed, I'm looking forward to the Nickel sulphide recovery percentages from the labs and the drill rig to head back out to Innouendy.