Premium Nickel Resources Ltd. [TSXV: PNRL; OTC: PNRLF] has filed an initial mineral resource estimate (MRE), titled “Technical Report, Selebi Mines, Central District, Republic of Botswana” and dated September 20, 2024 (with an effective date of June 30, 2024), on its past-producing copper-nickel-cobalt (Cu-Ni-Co) sulphide Selebi Main and Selebi North deposits in Botswana.
The technical report has been prepared by SLR Consulting (Canada) Ltd. in accordance with NI 43-101 standards.
There are no material differences between the technical report and the information presented in this news release and the results disclosed in the company’s news release dated Aug. 8, 2024, and titled “Premium Nickel Resources Ltd. Announces Its Initial Mineral Resource Estimate of 27.7 MT for the Selebi Mines in Botswana.”
Highlights: Selebi Main deposit MRE tonnage is 67 per cent larger than the historic resource inferred mineral resource estimate of 18.89 million tonnes at 3.51% copper equivalent (CuEq) or 1.70% nickel equivalent (NiEq): Contained metal inferred – 165,000 tonnes nickel and 319,000 tonnes copper.
Selebi North deposit MRE tonnage is 90% larger than the historic resource indicated mineral resource estimate of three million tonnes at 2.92% CuEq or 1.42% NiEq: Contained metal indicated – 29,000 tonnes nickel and 27,000 tonnes copper.
Inferred mineral resource estimate of 5.83 million tonnes at 3.11% CuEq or 1.51% NiEq: Contained metal inferred – 62,000 tonnes nickel and 52,000 tonnes copper.
While not included in this initial MRE, cobalt, which may offer additional economic value, is undergoing analysis as part of external studies to assess its payability.
CEO Keith Morrison commented: “The response to the initial MRE in Botswana has been extremely positive. The support for the redevelopment of the Selebi mines from the national government to local stakeholders is ongoing and has been widely encouraging. Drilling at Selebi North underground is ongoing and is designed to upgrade the inferred resources to indicated, while exploration drilling and BHEM surveys continue to highlight expansion potential downdip and down-plunge of the existing resources which will be included in an updated MRE. The company is also carrying out trade-off studies which will be used to support a future prefeasibility study (PFS).”
The historical mineral resource estimate referenced herein was calculated for the Selebi North, Selebi Main, Phikwe South and Southeast Extension deposits in accordance with the South African Mineral Resource Committee (SAMREC), in 2016, and does not comply with NI 43-101.
Premium Nickel is not treating the historical mineral estimates as current mineral resource estimates. To that end, the historical resource is considered to be historical in nature and should not be relied upon as a current mineral resource estimate. In addition, the historical resource has been superseded by the technical report.
Premium Nickel is focused on the redevelopment of the previously producing nickel, copper and cobalt resources mines owned by the company in Botswana.
