world class nickel mine announcement

Just released to the market


Wingellina – World Class Nickel Deposit
Metals X Limited today released its revised resource estimate for the World Class
Wingellina Nickel Limonite deposit in the Central Musgrave Ranges of Western Australia.
The total Identified Mineral Resource estimate contains over 2 million tonnes in contained
nickel metal and over 150,000 tonnes in contained cobalt. Following infill drilling over the
past 2 years, 85% of the resource is now at Measured and Indicated status (JORC) enabling
Metals X to take the project through feasibility studies with a view to establishing a very long
project life.
Metals X Managing Director, Peter Cook said “This is a great result for the Company and we
look forward to setting the project on the path to becoming one of Australia’s largest and
longest life nickel-cobalt producers. The deposit currently ranks well in size compared to
existing producers Murrin-Murrin and Ravensthorpe, and is estimated to be the 16th largest
undeveloped nickel oxide deposit in the world. As big as it currently stands, we are yet to
realise the full potential of the project area which we believe it still holds potential for the
resource to grow significantly larger. In addition, our growing understanding of potential
sulphide genesis models and make-up of the large Wingellina layered intrusive complex
continues to excite us about the potential for a nickel sulphide discovery, akin to the Nebo
and Babel discoveries (WMC now BHP) within a similar geological environment in the
nearby West Musgrave Ranges.”
Metals X will now update and complete its Scoping Study estimates before a decision to
embark on a detailed feasibility study for the project is made.