Weda Bay Minerals (WDA-T) has released more drill results that expand the nickel-cobalt resource of two deposits on its Halmahera property in Indonesia.
July drill results (eight holes) from the northeast extension of the Santa Monica deposit extend the deposit 200 metres to the east and about 50 metres farther north than previous drilling. Highlights of this drilling include one hole that intersected 1.79% nickel and 0.06% cobalt over 25.9 metres. This included 11 metres grading 2.23% nickel and 0.05% cobalt. Another hole intersected 34.8 metres grading 1.49% nickel and 0.04% cobalt. Other intercepts graded from 0.6-1.48% nickel and 0.07-0.26% cobalt over 1.4-6.7 metres.
Eight holes were drilled into the Pintu deposit which lies about five km to the east of Santa Monica. Five of the holes intersected greater than 2% nickel over widths of 3.4-8 metres. One hole intersected 8.5 metres grading 2% nickel and 0.28% cobalt. This included a 3.4-metre intercept grading 2.9% nickel and 0.04% cobalt. One hole, at the northern edge of the deposit, intersected 2.8 metres grading 1.16% nickel and 0.23% cobalt.
Two of the holes, drilled to the north and near the edge of the inferred deposit, failed to intersect significant mineralization. A preliminary resource estimate requires updating because it was calculated using drill data from about one quarter of the area that has been mapped as laterite.
The current measured and indicated resource of the Santa Monica deposit only covers about one half of the area that has been mapped as laterite. The deposit was estimated to contain 46.4 million tonnes grading 1.32% nickel and 0.12 % cobalt.
John Lynch, president and CEO of Weda Bay Minerals, recently stated that the Santa Monica deposit alone could now support a 20-year mine life.
Be the first to comment on "Weda Bay ups resource"