Nico Resources (ASX:NC1) is focusing on launching a tender process for an initial piloting campaign to confirm the robust flowsheet design of its flagship Wingellina Nickel-Cobalt Project.
The company in April reported it had obtained proposals from 3 ‘market-leading’ laboratories in Australia and Canada.
This quarter, Nico is also working on flora and fauna surveys in certain key project areas following the anticipated receipt of proposals to undertake the required scope of work.
The company says further exploration and associated work on the Lewis calcrete deposit is being undertaken as Nico works towards scope and definition documentation for a project Definitive Feasibility Study (DFS).
A recent drill program has confirmed ‘high-grade’ pits for Wingellina, located in Western Australia, which will provide a ‘significant’ amount of feed for the first decade of production. The reverse circulation (RC) drilling program consisting of 152 RC holes for 7,856m of drilling has confirmed the continuity within the identified high-grade nickel and cobalt domains.
Meanwhile, the company today (28 June 2023) reports Stewart Findlay has been appointed a Non-Executive Director to its board with immediate effect.
Findlay has over 25 years of banking and financial markets experience in arranging project finance, senior secured debt and corporate finance facilities, equity investments, commodity hedging arrangements and providing corporate advice to many resource companies.
He has also held senior positions in the metals and mining divisions of Macquarie Bank and National Australia Bank.
Nico adds Findlay holds a Bachelor of Commerce from the University of New South Wales and is a member of the Australian Institute of Company Directors.
Nico Resources is an exploration company with a portfolio of assets including the Wingellina and Claude Hills projects. The company had $5.767 million in cash and cash equivalents as of the end of March 2023, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Nico Resources Ltd
