Lunnon Metals Ltd (ASX:LM8, OTC:LNMLF) managing director Edmund Ainscough joins Proactive’s Jonathan Jackson to discuss an 11% increase in tonnage and a 9% increase in nickel metal at the Baker Nickel Deposit, part of its Kambalda Nickel Project in the Eastern Goldfields of Western Australia.
The updated mineral resource estimate (MRE) is now 1 million tonnes at 3.3% nickel, containing 33,700 tonnes of nickel metal. Notably, all 33,700 tonnes are within 350 metres of the surface, facilitating easier and more cost-effective mining and extraction.
The upgrade is the result of three drilling campaigns, totalling 6,700 metres, since December 2022. According to Ainscough, the Baker deposit, characterised by high-grade, shallow-depth nickel sulphide, excellent metallurgical properties and ease of access, represents a valuable asset for Lunnon Metals. Despite prevailing negative sentiment, the company has de-risked and grown the Baker project, securing necessary permits for future mining operations.
Currently, 22,900 tonnes of nickel metal are in the indicated resource category at Baker, with an additional 3,700 tonnes classified as measured resources for the first time. The Baker-Foster project now holds a combined resource of 3.1 million tonnes at 3% nickel, translating to 95,100 tonnes of contained nickel metal.
Lunnon Metals plans to advance a pre-feasibility study for the Baker-Foster Project and develop a mining proposal for Foster, aiming for initial approval for dewatering and rehabilitation as it prepares to resume mining.
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