An updated mineral resource estimate for Clean TeQ Holdings Ltd.'s Syerston property in New South Wales, Australia, showed increases of 30% and 16%, respectively, in cobalt grade and contained metal compared to figures in the 2016 pre-feasibility study.
A substantial increase in contained scandium metal was also achieved, according to an Oct. 9 release.
Using a 0.06% cobalt cutoff, the project hosts 593,000 tonnes of nickel and 132,000 tonnes of cobalt within 101 million tonnes at 0.59% nickel and 0.13% cobalt in the measured, indicated and inferred categories.
The company noted that the increase in cobalt grade is expected to result in a 30% rise in average cobalt production over the first 10 years of mine life to about 5,000 tonnes per annum.
The project's total scandium resource was pegged at 45.7 million tonnes at 420 parts per million of scandium for 19,222 tonnes of contained metal at a 300 ppm cutoff, while the total platinum resource was estimated at 103.1 million tonnes at 0.33 g/t of platinum for 1.1 million ounces at a 0.15 g/t cutoff.
According to Clean TeQ, the revised resource will underpin the upcoming ore reserve update for the project in the definitive feasibility study, which is underway.