- Premium Nickel Resources (TSXV:PNRL) has filed an initial NI 43-101 mineral resource estimate for two deposits on its past-producing Selebi copper, nickel and cobalt mine in Botswana
- The junior miner plans to conduct further studies and exploration towards a pre-feasibility study
- Premium Nickel Resources is a mineral exploration and development company focused on nickel, copper and cobalt mines in Botswana, as well as precious and base polymetallic properties in Canada and Greenland
- Premium Nickel Resources stock last traded at C$0.49 per share and has given back 63.43 per cent year-over-year
Premium Nickel Resources (TSXV:PNRL) has filed an initial NI 43-101 mineral resource estimate for two deposits on its past-producing Selebi copper, nickel and cobalt mine in Botswana.
Selebi’s Main deposit, with tonnage 67 per cent larger than the historic resource, houses inferred mineral resources of 18.89 million tons at 3.51 per cent copper equivalent or 1.70 per cent nickel equivalent, which amounts to contained metal of 165,000 tons of nickel and 319,000 tons of copper.
Selebi’s North deposit, with tonnage 90 per cent larger than the historic resource, houses indicated mineral resources of 3 million tons at 2.92 per cent copper equivalent or 1.42 per cent nickel equivalent (contained metal of 29,000 tons of nickel and 27,000 tons of copper) and inferred mineral resources of 5.83 million tons at 3.11 per cent copper equivalent or 1.51 per cent nickel equivalent (contained metal of 62,000 tons of nickel and 52,000 tons of copper).
According to Friday’s news release, management believes cobalt might also prove to be a source of value at the mine, with external studies ongoing to assess this potential as drilling and surveying progress towards an intended pre-feasibility study.
Leadership insights
“The response to the initial mineral resource estimate in Botswana has been extremely positive,” Keith Morrison, Premium Nickel Resources’ chief executive officer, said in a statement. “The support for the redevelopment of the Selebi mines from the National Government to local stakeholders is ongoing and has been widely encouraging. Drilling at Selebi North underground is ongoing and is designed to upgrade the inferred resources to indicated, while exploration drilling and BHEM surveys continue to highlight expansion potential down-dip and down-plunge of the existing resources, which will be included in an updated mineral resource estimate. The company is also carrying out trade-off studies which will be used to support a future pre-feasibility study.”
Premium Nickel Resources is a mineral exploration and development company redeveloping previously producing nickel, copper and cobalt mines in Botswana. The junior miner also holds precious and base polymetallic properties in Canada and Greenland.
Premium Nickel’s team has worked on more than 100 projects, amassing more than 400 years of resource discovery, mine development and mine re-engineering experience, with the senior team averaging more than 20 years of experience across resource discovery, development and operations.
Premium Nickel Resources stock (TSXV:PNRL) last traded at C$0.49 per share. The stock has given back 63.43 per cent year-over-year.
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(Top photo of the core shack at the Selebi mine in Botswana: Premium Nickel Resources)