BML delivers maiden nickel-copper JORC resource at Maibele North

Botswana Metals has now defined a maiden Inferred Resource for the Maibele North orebody.
Botswana Metals (ASX:BML) has now defined a maiden JORC Inferred Resource for the Maibele North orebody in Botswana with significant levels of cobalt also occurring in the mineralisation.

The resource has been estimated by independent consultants, MSA South Africa, from an extensive drill program undertaken in 2014 in conjunction with BML’s Joint Venture partners BCL Limited – owned by the Botswana Government.

Expenditure for first year was $2 million with $4 million required to be spent over 2 years for BCL is to earn its initial 40% interest.

The 2012 JORC Resource comprises: 2.38 million tonnes at 0.72% nickel, 0.21% copper and 0.63g/t 4PGE+Au using a 0.3% nickel cut-off grade has been calculated based on the primary (sulphide) mineralisation only.

There is also the strong potential for the resource to grow.

Geophysical surveys are ongoing in readiness for further drill testing.

The occurrence of cobalt is of interest as it has not been included in the resource estimate. The inclusion of cobalt would add valuable credits to the Maibele North ore and the resource will be upgraded by inclusion of cobalt values.

BCL is wholly-owned by the Botswanan government, commencing operations in 1959, and is now one of the largest private sector employers within the country.

The longevity of the BCL mine is dependent on additional ore outside of its existing nickel resources being made available.

Botswana Metals is in a prime position to potentially provide this ore to the BCL mine and smelter.

Resource calculation

The resource calculation was limited to recent 2014 drill holes only, and historical drill data has not been used.

Oxidised mineralisation has not been included in the resource calculation.

Cobalt credits still being reviewed and are expected to add to the resource value.

Analysis

Botswana Metals has now delivered a maiden Inferred Resource for the Maibele North orebody.

This comprises 2.38Mt at 0.72% nickel, 0.21% copper and 0.63g/t 4PGE+Au using a 0.3% nickel cut-off.

There is also the strong potential for the resource to grow.

The resource is open to the east, west and at depth with numerous ground and down hole EM targets identified for further drilling which is expected to increase the resource.

Botswana Metals joint venture partner BCL Limited requires ore, with the longevity of the BCL mine dependent on additional ore outside of its existing nickel resources being made available.

Botswana Metals has the potential to fill this gap from nearby resources.

The first resource which could get monetised within a year is Maibele North project, which is located just 55 kilometres from BCL’s smelter.

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Source: AfricaMetro

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