Premium Nickel Resources Ltd. (TSXV: PNRL) (“PNRL” or the “Company”) is pleased to announce that the Company has filed an initial Mineral Resource Estimate (“MRE“) titled “Technical Report, Selebi Mines, Central District, Republic of Botswana” (the “Technical Report“) 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 (together, the “Selebi Mine“) in Botswana.
The Technical Report has been prepared by SLR Consulting (Canada) Ltd. (“SLR“) in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101“), and is available electronically on the Company’s website (www.premiumnickel.com) and on SEDAR+ (www.sedarplus.ca) under PNRL’s issuer profile.
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 August 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% larger than the Historic Resource (as defined herein)
Inferred Mineral Resource Estimate of 18.89 million tonnes at 3.51% CuEq or 1.70% 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 3.00 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.
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