Bahia Metals (CSE:BMT) reports an initial mineral resource estimate (MRE) of 313 million tonnes at 0.33% nickel total equivalent for its Mangueiros Main Project, the company’s nickel-copper-cobalt-platinum group metals asset in Bahia State, Brazil.
CEO Stephen Goodman says the delivery of the initial resource less than a year after Bahia’s IPO is a ‘defining’ milestone for the company.
“With the MRE complete, the company will continue to assess the development potential of Mangueiros Main,” Goodman says.
“The scale of this sulphide nickel mineral resource, with substantial copper and cobalt credits, provides a technical foundation for advancing a preliminary economic assessment [PEA] for Mangueiros Main.”
The estimate exceeds the upper end of the historical exploration target tonnage range dated 15 November 2024. This was calculated using 70 historical drill holes, applying a 0.09% nickel sulphide equivalent cut-off grade.
Bahia will now complete the initial technical report for the MRE and assess the scope and timing of further technical studies, including a PEA.
Bahia Metals is a Canadian explorer and developer focused on advancing Manguueiros Main and evaluating the district-scale potential of its broader asset portfolio in Bahia State.
Write to Paula Fabe at Mining.com.au
Images: Mining.com.au
