Estrella Resources Limited (ASX: ESR) has announced a maiden T5 JORC 2012-compliant Mineral Resource Estimate (MRE) which underpins an Exploration Target of five to seven million tonnes for the basal contact at the 100%-owned Carr Boyd Nickel Project located 80km northeast of Kalgoorlie.
I am pleased to report this initial MRE for T5 which is a significant milestone for Estrella and is a major step towards quantifying a sizeable Exploration Target estimate for the Carr Boyd basal contact,” Managing Director, Chris Daws, said.
“We will continue to progress with systematically testing the approximately 16km of basal contact strike within Carr Boyd, as well as test for possible sulphide occurrences off the basal contact, such as those forming at the Carr Boyd Nickel Mine, with drilling and geophysics and I look forward to updating the market as results are received.”
This initial Inferred T5 MRE is based upon 43 diamond holes and 3 reverse circulation holes drilled by Estrella Resources at T5, covering a strike length of 500 metres and running from near surface to 720m depth. The MRE is entirely north of the Proterozoic Dyke which Estrella has interpreted to split the T5 mineralisation.
In addition to the nickel and copper, the T5 MRE contains over 12,000 ounces of platinum and palladium and almost 55,000 ounces of silver which are associated with the sulphide mineralisation. The nickel- copper-PGE sulphide resource is free of Arsenic and is low in MgO.
The T5 Mineral Resource Estimate, with an additional 34 regional diamond holes and 56 reverse circulation holes, has been used to estimate an Exploration Target for the 16km of the prospective Carr Boyd Basal Contact of between five Mt and seven Mt at a nickel grade between 0.7% and 1.5%.
Additional work on the existing Carr Boyd remnant resource will also be carried out.
Estrella plans to continue to systematically test the approximately 16km of basal contact strike within the Project’s tenure, as well as testing for possible sulphide occurrences off the basal contact, such as those forming at the Carr Boyd Nickel Mine.