PERTH (miningweekly.com) – ASX-listed Sirius Resources has declared a maiden nickel/copper/cobalt resource at its virgin Nova discovery, in Western Australia.
The explorer said on Wednesday that the project was estimated to contain some 242 000 t of nickel, 100 000 t of copper and some 7 700 t of cobalt, from 10.2-million tons of ore, grading 2.4% nickel, 1% copper and 0.08% cobalt.
The mineral resource estimate exceeded expectations, the company said, and did not include the recently discovered Bollinger deposit, which was currently being drilled.
Despite the better-than-expected resource estimate, Sirius shares were down nearly 4% on Wednesday to trade at a low of A$3.86 a share.