Aston Minerals (ASX:ASO) reports the delineation of a maiden nickel-cobalt sulphide Mineral Resource Estimate (MRE) across the Boomerang nickel-cobalt sulphide system at its Edleston Project in Ontario, Canada.
The Boomerang Nickel-Cobalt Sulphide February 2023 Mineral Resource has been estimated at 1.044 billion million tonnes of nickel and cobalt grading 0.27% Ni and 0.011% Co at a cut-off grade of 0.265% Ni-Eq. This MRE is the maiden resource for the Bardwell Prospect.
The total global resource of 1.044bt at 0.27% Ni, 0.011% Co (0.30% Ni-Eq) has an Indicated Mineral Resource of 155Mt at 0.28% Ni, 0.011% Co (0.31% Ni-Eq), and an Inferred Mineral Resource of 889Mt at 0.27% Ni, 0.011% Co (0.30% Ni-Eq).
The Edleston Project is located some 60km via road to the south of Timmins in Ontario. The cities of Timmins and Kirkland Lake are located close by and host significant former and current producers, with required services and skilled labour available to support exploration and development of the project. The region is globally recognised in terms of large-scale open pit and underground operations.
Addressing the MRE, Managing Director Dale Ginn says: “To go from initial concept through to maiden Mineral Resource in less than 18 months is a tremendous achievement by the team. The Boomerang Resource is now confirmed as one of the world’s biggest nickel-cobalt deposits.
Boomerang still has incredible growth potential at depth and our geophysical surveys have identified numerous other lookalike targets on our tenements which are yet to be tested by drilling. The broad nature of mineralisation at Boomerang, its amenability to conventional beneficiation, access to environmentally responsible hydroelectric power, availability of local skilled labour and a well-established mining legislature ideally positions this project to be a globally significant nickel and cobalt mine set to meet a significant portion of the soaring demand from the EV battery industry over the coming decades.”
“Boomerang still has incredible growth potential at depth and our geophysical surveys have identified numerous other lookalike targets”
Executive Chairman Tolga Kumova notes that finding and defining such a gigantic nickel cobalt sulphide resource within 18 months has been an ‘incredible achievement by all involved’.
“This deposit ranks as one of the largest undeveloped nickel-cobalt sulphide resources globally. These types of assets are very rarely held by junior explorers. We have the strategic advantage relative to other bulk disseminated nickel sulphide assets due to the proximity to both nickel smelters and end-user markets. Policy both within Canada and the USA is strongly supportive of providing a sovereign supply of ethically produced nickel and cobalt.
Recently, the Inflation Reduction Act of the United States stipulated a commitment to increasing ownership of critical minerals which includes nickel and cobalt. US$500 billion of funding has been allocated. The lack of exploration success in recent history with respect to the delineation of substantial nickel sulphide resources is a risk to the rapidly developing EV market of a supply shortfall for the raw materials required to match the projected demand.
“…what Aston has discovered and delineated here at the Boomerang Resource now positions the company uniquely…”
Global supply chain concerns and constraints have further exacerbated these issues. We believe, however, that what Aston has discovered and delineated here at the Boomerang Resource now positions the company uniquely to being able to provide a large part of the solution. Future exploration programs will aim to increase the higher grade portions of the resource from target areas and to convert inferred resources to indicated resources. In addition, metallurgical testing to optimise the already impressive recoveries and concentrate specifications is ongoing.”
Nickel-cobalt sulphide mineralisation was discovered by Aston in September 2021 at Bardwell Prospect and ongoing diamond drilling of the entire Boomerang Nickel-Cobalt Sulphide System was conducted through to October 2022. A total of 62 diamond drillholes for 28,001m of drilling has been completed to date.
Write to Adam Orlando at Mining.com.au
Images: Aston Minerals Ltd
