Giga Metals Corp. (TSXV:GIGA) has updated its NI 43-101 mineral resource estimate (MRE) for the Turnagain nickel project in British Columbia, Canada.
The new MRE increases is based on an additional 15 drill holes totalling 6,295 metres drilled in 2021 that were drilled for resource expansion and resource classification upgrade in addition to supplying geotechnical data.
Measured plus Indicated resources at Turnagain increase by 42% to 1.52 billion tonnes, while contained nickel increased by 35% to 7.0 billion pounds.
“The updated mineral resource estimate for the Turnagain Project represents an important milestone in the path towards developing a large, long-life operation,” CEO, Mark Jarvis, said.
“The updated geological modelling has increased our level of certainty in the contained resources to feed a global-scale nickel sulphide concentrate facility. The new model reflects resources in the Horsetrail zone, north of the Turnagain river (95% of M&I resources) and the Hatzl zone south of the river, but excludes resources which underlie the river and an ecological setback on either side.”
2022 Updated Mineral Resources comparison to 2019 Mineral Resource
Since the 2019 mineral resource update, Giga Metals has performed resource expansion and geotechnical drilling in addition to revising its geological modelling. In addition, the schema for classification of resources has been adjusted to reflect drill spacing and reflect confidence that the proposed production rate can reasonably be realised within specified periods of time (i.e. quarterly and yearly). In addition, metal prices have been adjusted to reflect the current economic environment.
As a result, the Measured plus Indicated resources have grown; however, the Inferred resources have also grown as the volumes of the ultimate conceptual pit have expanded. This comparison is provided for information purposes only.
Giga Metals Corporation is focused on metals critical to modern batteries, especially those used in Electric Vehicles and Energy Storage. The company’s core asset is the Turnagain Project, located in northern British Columbia, which contains one of the few significant undeveloped sulphide nickel and cobalt resources in the world.
Giga Metals has formed a joint venture with Mitsubishi Corporation to develop the Turnagain nickel/cobalt project in Canada and plans to complete a Prefeasibility Study in H1 2023.
For further information please visit: https://gigametals.com/
