Nickel Exploration

As part of Mincor’s Nickel Restart Strategy, the Company has a long-term commitment to exploration to grow its high grade nickel Mineral Resources and Ore Reserves.

The Company has consolidated nearly all of the shallow prospective nickel ground within the world-class Kambalda District, and has a strategic footprint with a history of delivering profitable high-grade nickel mines.

There has been limited greenfields exploration in the Kambalda District over the past 20 years, with most operators focusing on near mine and brownfields exploration.

The key setting for all Kambalda nickel mines is the basal contact between an ultramafic rock hosting nickel mineralisation and the underlying basalt rock. Geologists are looking for the ancient ultramafic lava channels that flowed over the basalt surface. It is at the base of these channels where economic nickel sulphide mineralisation can potentially accumulate.

Mincor’s nickel exploration program is progressing multiple targets within its highly prospective portfolio.

NORTH KAMBALDA

Much of the nickel produced from the Kambalda District came from a few very large (>100,000 tonnes) nickel mines, all of which are located around the Kambalda Dome. Mincor’s North Kambalda landholding cover the northern third of the Kambalda Dome, with nickel production from seven known ore systems including Otter Juan, the single biggest producer in the district.

Among the many known targets, the area east of Otter Juan and down dip of Durkin North stands as one of the most exciting nickel exploration opportunities in the Company’s portfolio.

Mincor has confirmed the likely presence of the mineralised channel structure in drilling down dip of the Otter Juan and along plunge of the Long channel structures.

As part of the DFS, a 1.1km incline is planned to be developed between Long and Otter Juan mines. This provides an ideal opportunity to drill into a large area which remains completely untested.

Historically, this area has not been drilled from surface and was difficult to access from underground due to a tenement boundary split between IGO and Mincor which no longer exists. The channel is well defined and underground drilling targeting the untested space between Durkin North and Long has high potential to provide nickel intersections to increase current or add new Mineral Resources.

WIDGIEMOOLTHA DOME

The Widgiemooltha Dome area is home to the Cassini deposit, a blind near-surface nickel sulphide discovery made by Mincor in 2015.

Cassini offers excellent potential for Resource upside by extending the existing Resource area and progressing other greenfields targets in the surrounding area.

The Cassini deposit shares many key geological characteristics with some of the larger nickel mines elsewhere in the world-class Kambalda District, with these characteristics known to generate extensive and multiple mineralised channel trends.

Two open-ended Resource trends have been delineated at Cassini to date (CS2 and CS4), with promising intersections also returned in adjacent channel trends. The combination of these channels demonstrates the opportunity to rapidly build substantial high-grade nickel Resources.

In early 2020, Mincor re-commenced drilling a target adjacent to Cassini, at Cassini North. Economic grade intersections had previously been reported from this area and interpreted channel structures at Cassini North bear a strong resemblance to the Cassini Mineral Resource.

Within the greater Cassini area, exploration targets at Juno 4 are continuing to be assessed by the Mincor Exploration team using Mincor’s proven exploration methodology.

BLUEBUSH/REPUBLICAN HILL

The Bluebush line has two nickel Mineral Resources, Stockwell and Cameron, on the western side of the Bluebush anticline. Republican Hill lies at the southern end of the Bluebush group of tenements.

The Republican Hill prospect is located within a large ultramafic body adjacent to the basalt contacts and contains numerous small nickeliferous gossans mapped at the surface. The fertility of the ultramafic was confirmed in historical drilling campaigns which intersected nickel sulphides.

Field inspections indicate that a 2km strike length of this highly prospective basal contact remains untested by drilling.