Pacific Nickel Mines Limited (ASX: PNM) has completed initial infill and grade control drilling at its Kolosori Project, Isabel Island, Solomon Islands.
Pacific Nickel CEO Geoff Hiller commented, “Pacific Nickel Mines is pleased with high-grade results in these initial mining areas which support steps being taken by the company to start mining as soon as practicable.”
Pacific Nickel carried out the drilling programme in preparation for to start initial mining activities at the project, which are forecast to commence in October 2023.
The company has stated that the results from the 40-by-40m grade control drilling are consistent with the geological block model confirming that the area has high nickel grades for the initial mining.
The assays show strong correlation with nickel, moisture iron, and other attributes in comparison to the resource drilling and resource modelling datasets.
Additionally, thickness and spatial continuity encountered in the transition and saprolite layers are comparable to those predicted in the JORC block model for this area of the deposit, and the drilling data has confirmed the viability of mining at a location closer to the barge loading facility than that originally envisaged in the DFS.
Pacific Nickel has also recently completed a 20m-by-20m pattern in this initial mining area with most of the samples now with ALS in Brisbane. The company will use the drilling data to finalize pit designs for the initial mining areas at the Kolosori Project.
“These results are particularly important in the context of finalizing drawdown of the second tranche of funding under the senior secured debt facility of up to US$22M being provided by Glencore International AG. They also support the execution of a mining contract at the earliest opportunity.” Said Mr. Hiller.
To find out more, please visit www.pacificnickel.com.