Posted on 27 Jun 2023
Australian miner Pacific Nickel Mines says its initial infill and grade control drilling at the Kolosori project has returned high-grade nickel hits, Kallanish reports.
The drilling programme within ML 02/2022, on Isabel Island, Solomon Islands, was carried out in preparation for initial mining activities at the Kolosori project forecast to commence in October 2023.
The results from the 40 by 40 metres grade control drilling are consistent with the geological block model, confirming that the area has high nickel grades for the initial mining, the company says.
Chief executive officer Geoff Hiller adds the results in these initial mining areas support steps being taken by the company to start mining “as soon as practicable.”
According to him, these results are particularly important in the context of finalising the drawdown of the second tranche of funding under the senior secured debt facility of up to $22 million being provided by Glencore International AG.
“They also support the execution of a mining contract at the earliest opportunity,” he adds.
The Kolosori project is expected to ramp up to full production of around 1.5 million wet metric tonnes/year of direct shipping nickel ore during 2023.
Source:Kallanish
