Ardea Resources Ltd. on March 14 posted an updated resource estimate for the KNP zone at its Kalgoorlie property in Western Australia defining 108,400 tonnes of cobalt and 856,900 tonnes of nickel in terms of contained metal.
KNP hosts resources totaling 108.3 million tonnes at 0.10% cobalt and 0.79% nickel using a cutoff grade of 0.08% cobalt or 0.5% nickel.
The increase relates to the Goongarrie project at KNP, the company said. A pre-feasibility study on Goongarrie with revenue-focused mine scheduling is nearing completion and will include an estimate of reserves.
Ardea noted that the updated estimate resulted from a new focus on the nickel at Goongarrie related to improved pricing, whereas the previous estimate only used a cobalt cutoff grade.
The cobalt zone at Goongarrie hosts measured, indicated and inferred resources totaling 83.1 million tonnes at 0.10% cobalt and 0.81% nickel for 81,700 tonnes of cobalt and 672,300 tonnes of nickel.
The estimate covers the Goongarrie South, Big Four and Scotia Dam deposits, which occur within a continuous mineralized zone extending over 16 kilometers in strike length and over 1 kilometer wide.
