Class 1 Nickel Unveils Updated Resource Estimate for Dundonald
Class 1 Nickel's Milestone Update on the Dundonald North Deposit
Class 1 Nickel and Technologies Ltd. (CSE: NICO | OTCQB: NICLF) is thrilled to share the submission of an independent NI 43-101 Technical Report, shedding light on the upcoming plans for the Alexo-Dundonald Nickel Project. This report carries significant updates on the Mineral Resource Estimate for the Dundonald North Deposit, which forms part of a larger nickel sulphide project known for its rich deposits.
Technical Report Insights
The title of the Technical Report reflects its depth: "National Instrument 43-101 Technical Report and Mineral Resource Estimates for the Alexo-Dundonald Nickel Sulphide Project.” Prepared by Qualified Persons (QPs) from Aticus Geoscience Consulting Ltd. and Caracle Creek Chile SpA, this report is pivotal for current and future mining operations.
CEO's Remarks on Project Progress
David Fitch, CEO of Class 1 Nickel, emphasized the significance of this updated resource stating, "This updated resource marks another step forward in realizing the full value of our Alexo-Dundonald Project. As Dundonald North adds a valuable resource alongside our other deposits, our position in this established nickel landscape continues to strengthen."
Understanding the Mineral Resource Estimate
The current MRE for the Dundonald North Deposit has undergone careful verification, completed using data from a total of 64 drill holes. The total drilling length amounted to 22,041.97 meters, indicating rigorous exploration efforts by previous operators. This MRE replaces an earlier report and showcases a commitment to continued development.
Resource Statement Breakdown
In Mineral Resource terms, it’s crucial to understand that Inferred Resources do not possess demonstrated economic viability. The report conducted thorough estimations considering environmental, legal, and socio-political factors that could affect resource estimates. Notably, a strong potential exists to upgrade the Inferred Resources into higher confidence categories with continued exploration.
Advancing Exploration Programs
Class 1 Nickel plans to broaden its exploration scope within the Alexo-Dundonald Nickel Sulphide Project. Apart from enhancing known deposits, the company intends to explore numerous less-studied areas, indicative of extensive nickel sulphide occurrences. Recent methodologies including airborne geophysics will support these exploratory efforts.
Targeting High-Grade and Low-Grade Resources
A dual strategy is in place focusing on both high-grade nickel sulphide deposits and larger, lower-grade komatiite-hosted deposits. This strategy mirrors developments in the Timmins area, where similar deposit types are being aggressively explored. The exploration program will utilize diamond drilling to further identify potential.
Resource Handling and Quality Control
Quality assurance and rigorous analysis are missions at Class 1 Nickel. Historical analytical methods spanning decades are complemented by modern processes to ensure accurate assessments of nickel, cobalt, copper, and platinum group metals.
The Future of the Alexo-Dundonald Nickel Sulphide Project
The Alexo-Dundonald Project emerged as a prominent site due to its substantial area, covering about 3,093 hectares. Acquired in late 2018, it has four identified nickel deposits. Classic in its design, these deposits have a long history of high-grade nickel production.
Contact Information
For further inquiries, please reach out to Mr. David Fitch, President & CEO:
T: +61.400.631.608
E: info@class1nickel.com
Frequently Asked Questions
What is the significance of the recent MRE for Dundonald North?
The updated MRE signifies the strong potential for enhanced resource recovery and increased confidence in the quality of the deposits available within the Dundonald North area.
Who conducted the independent Technical Report?
The Technical Report was crafted by Aticus Geoscience Consulting Ltd. and Caracle Creek Chile SpA under the guidelines set by the NI 43-101 regulations.
How will the exploration efforts proceed for Class 1 Nickel?
Class 1 Nickel is set to expand its exploration program, focusing on previously underexplored areas, armed with new technology and data-driven insights from previous drillings.
What are the two main types of nickel deposits Class 1 Nickel is focusing on?
Class 1 Nickel aims to explore both high-grade nickel sulphide deposits and large tonnage, low-grade komatiite-hosted deposits in its current strategy.
How does this project stand in comparison to others in the region?
The Alexo-Dundonald Nickel Project is held in high regard due to both its history of productivity and its significant exploration potential within the renowned Timmins Mining Camp.
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