A-Cap Energy Limited: Wilconi Jorc Resource Update September 2019
(firmenpresse) -
HIGHLIGHTS
- Wilconi Resource upgrade confirms large Nickel - Cobalt resource of 78.8 million tonnes;
- Mineral Resource estimate reports 585,000 tonnes contained Nickel and 53,000 tonnes contained Cobalt (inferred);
- Higher grade upper Cobalt zone of 29 Mt averaging 0.11 % Cobalt identified;
- Significant opportunities exist to expand and upgrade from inferred to indicated resources with planned drilling campaigns to commence in Q4, 2019.
A-Cap Energy Limited (A-Cap, the Company) has upgraded the Wilconi Ni-Co resource to the latest JORC standard and is now pleased to announce that the geological modelling and resource calculations more clearly reflect the quality of the Wilconi mineralisation. Independent geological resource specialists, Mining Plus Pty Ltd (Mining Plus) were commissioned by A-Cap using historical and recent drilling data to estimate the Wilconi resource by separating the high cobalt-nickel zone from the underlying dominantly nickel zone. The work involved utilising results of 443 drillholes and 18,425 assays to create the updated resource model. The updated resource figures are presented in Table 1.
Mineral Resource Estimate for the Wilconi Deposit - Septem
ber
, 2019
DomaiCut-Off Inferred
n
(All cut
offs are
exclusive)
TonneNi %Co %MgO NickelCobalt
s % Metal Metal
(Mt) (Tonn (Tonn
es) es)
Co >600 ppm Co (Low MgO,7.0 0.390.105.7 27,0007,000
(%) <0.5%
Ni)
Ni >0.5% Ni (Low MgO, 22.0 0.870.124.4 191,0027,000
(%) >600 ppm 0
Co)
Ni >0.5% Ni (Low MgO, 18.9 0.730.046.9 139,007,000
(%) <600 ppm 0
Co)
Ni >0.5% Ni (High MgO) 30.8 0.740.0414.8228,0012,000
(%) 0
Total 78.8 0.740.079.2 585,0053,000
0
The preceding statements of Mineral Resources conforms to
the Australasian Code for Reporting of Exploration
Results, Mineral Resources and Ore Reserves (JORC Code)
2012 edition. All tonnages reported are dry metric
tonnes. Minor discrepancies may occur due to rounding to
appropriate significant figures.
Table 1 Wilconi Nickel Cobalt Resource prepared by Independent Resource Consultants Mining Plus Pty Ltd September 2019
By breaking the zones based both on the background magnesium content as well as selected cut-off grades, the resource geologists can define ore shells that geologically and metallurgically better reflect the practical conditions for future mining. The overall global inferred resource of 78.8 million tonnes grading 0.74% nickel and 0.07% cobalt has been further split into an overlying cobalt dominant zone (29 million tonnes) and an underlying nickel dominant zone (49.7million tonnes).
Figure 1 below is a diagrammatical representation of the broad mineralisation zones as defined in the table above (Table 1). Details of the drill holes shown in Figure 1 are listed in Appendix 1.
https://www.irw-press.at/prcom/images/messages/2019/48869/15 - Wilconi JORC Resource Update September 2019 17 Sep-19_PRCOM.001.jpeg
Figure 1 Diagrammatic cross section of the Wilconi resource showing the ore zones defined in Table 1
Metallurgical work on Wilconi (refer ASX announcement 23/8/19) demonstrated that the Wilconi mineralisation is suited to a number of favourable extraction possibilities, and the priority of the next phase of work will be narrowing down the metallurgical work. A-Cap plan to fast track the pre-feasibility study in the coming months, and this recently completed JORC work has been imperative in this process. As well as metallurgical drilling, the Company will be infill drilling to progress Inferred resources to the indicated category.
The chairman of A-Cap Energy, Mr Angang Sheng commented, This latest resource work has greatly strengthened our belief that the Wilconi Project holds robust resources. This work will allow our company to rapidly advance by focussing on the special attributes of the deposit and by finely tuning metallurgical processes that better reflects the mineralisation style.
MATERIAL INFORMATION SUMMARY
Pursuant to ASX Listing Rule 5.8.1 the following summary is provided of information material to understanding the Mineral Resource estimate.
GEOLOGY AND GEOLOGICAL INTERPRETATION
The Wiluna nickel-cobalt laterite deposit is located within the Archaean Norseman-Wiluna greenstone belt. The nickel-cobalt mineralisation has developed through lateritisation of the Perseverance ultramafic sequence and extends for 20 kilometres along strike and is up to 1500 metres wide.
The Perseverance ultramafic sequence trends northwest-southeast and dips steeply towards the east. Locally, the geology consists of a less continuous western ultramafic sequence, and a more continuous eastern ultramafic sequence (Figure 2). The eastern sequence is offset by a north-south trending fault at around 7,056,000 mN, interpreted from aeromagnetic data. Both the western and eastern sequences contain similar lithologies of olivine orthocumulate, olivine mesocumulate and minor olivine adcumulate rocks. Pyroxene cumulate and gabbro is generally located along the western margins, with olivine pyroxene cumulate found along the eastern margins. At the boundaries of the ultramafic sequence are generally intermediate and mafic volcanic rocks and dolerite.
The region is covered by a thick blanket of lateritic regolith and outcrop is sparse and the detailed geological understanding is based primarily on the extensive drilling conducted over the deposit. Nickel and cobalt mineralisation has been formed by intense weathering (lateritisation) and has concentrated in a saprolite clay layer that overlies the ultramafic rock unit. The top of the mineralisation ranges from 2 to 60m depth and can be up to 30m thick, averaging 4m in thickness. Detailed studies have shown that cobalt has been preferentially enriched in the upper portion of the saprolite clay layer and this zone has been modelled and incorporated into the updated resource estimate.
DRILLING INFORMATION
The Wilconi deposit has been explored over a period of 50 years by Delhi Australian Petroleum (1967 - 1968), AMAX Exploration (1971 -1973), Trig Mineral Exploration (1972), Kennecot exploration (1971 - 1972), Asarco Australia (1992), CRA Exploration (1992 - 1997), Wiluna Mines (1998), Outokumpu Mining (1998), Agincourt Resources (2005 - 2006), Independence Group and Oxiana Limited (2005 - 2009) and A-Cap Energy Limited (2019). During this period 13,905 holes for a total of 509,257m have been drilled in the Wilconi district.
Drilling has been conducted at 100m intervals along lines spaced 400m apart along the entire length of the deposit. The drill lines are oriented perpendicular to the strike of the mineralisation and holes have been drilled between -60 and -90 at a high angle to the flat-lying zones of mineralisation.
Mining Plus extracted a sub-set of 443 holes, totalling 47,947m and 18,425 assays from the main database. This sub-set consisted of those drill holes confined to the mineralised zone and were used to complete the mineral resource estimate. The holes in this sub-set consisted of 346 reverse circulation (RC), 70 aircore (AC) and 27 diamond drill (DD) holes drilled by AMAX (12 DD), Asarco (17 RC), CRA (9 DD & 292 RC) , Oxiana (15RC), Wiluna Mines (60 AC) and Agincourt Resources (6DD, 10 AC, 22RC).
Historical collar survey methods are not recorded in the database, though locations appear to be accurate as most hole collars can still be identified in the field. Local grids were used in the early 1968-71 drilling and were not picked up by GPS. They have been converted to GDA by a grid transformation.
Holes drilled by Wiluna Mines were surveyed downhole by a Reflex multishot instrument. Agincourt, Independence and Oxiana used an Eastman single shot down hole camera to survey the collar and base of their drill holes.
Historical and recent logging of drill chips and core is of high quality and completed by experienced field geologists and personnel.
https://www.irw-press.at/prcom/images/messages/2019/48869/15 - Wilconi JORC Resource Update September 2019 17 Sep-19_PRCOM.002.jpeg
Figure 2: Local sub-surface geology for the Wilconi Ni-Co deposit
SAMPLING AND SUB-SAMPLING
Reverse circulation drill holes were sampled and geologically logged on 0.5m, 1m or 2m intervals. Independence and Oxiana used a combination of riffle splitters or spears for collecting a sub-sample of drill chips for analysis. Other companies did not record their method of sampling RC chips, however, it is expected that industry-standard practices were employed. Diamond core sampling varied between 1m to 4m intervals, with selective sampling at narrower intervals to geological/ mineralisation boundaries. Wiluna Mines used a diamond saw to cut core in half for sampling.
CRA recorded recoveries of all RC samples. Recoveries were typically in the order of 100%. CRA used Analabs, whereas Agincourt, Independence and Wiluna Mines used Amdel (Welshpool, Perth) for their geochemical analyses. On occasions Oxiana also used Genalysis, all ISO accredited labs. It is assumed that standard dual stage crushing and pulverisation was employed prior to acid digest. For Agincourt, RC sampling, either a blank was inserted or a duplicate prepared every 1 in 20 samples. Oxiana inserted standards or prepared duplicates every 12 samples. Nickel assays were within 5% of recommended standard values and cobalt assays within 15% of recommended values. Historical records of quality control for other RC/RAB/AC drilling have not been sighted however, it is expected that industry-standard practices were employed.
Agincourt drill samples were analysed using ICP, with parts per million accuracy. For Independence drilling, samples were analysed by using four acid digest and ICP/OES finish (technique ICP102) to part per million accuracy. Oxiana had samples analysed at Amdel by XRF at 0.001 % accuracy and Genalysis by ICP to ppm accuracy.
In 2019 A-Cap drilled four RC holes that twinned historical RC holes (CRA 1995) and when compared strongly confirmed the original RC results (see announcement dated 30th April 2019).
METALLURGICAL TEST WORK
Metallurgical test-work has been conducted on bulk samples from Wilconi at four different laboratories testing a variety of reagents. Results of these studies has been used to help determine cut-off grades used in the mineral resource estimate (see announcement dated 23rd August 2019).
CUT-OFF GRADE
A cut-off grade of 0.06 % cobalt for the upper cobalt zone and 0.5 % nickel for the lower nickel zone were determined based on independent mining costs studies, metallurgical recovery from test work and current nickel and cobalt prices.
ESTIMATION METHODOLOGY
The wireframes interpreted for the MRE were created by A-Cap geologists in Micromine using the Ni and Co assays. Separate wireframes were constructed for Ni > 0.5% and Co > 600 ppm where assays that are to be included are in either wireframe set (not both). The drillhole data was composited downhole prior to the geostatistical analysis, continuity modelling and grade estimation process using a 2 m interval, the dominant sample length (with a residual length of 0.5 m), to minimise any bias due to inconsistent sample lengths.
Composites within each of the mineralised domains were analysed to ensure that the grade distribution is indicative of a single population, with no requirement for additional sub-domaining, and to identify any extreme values which could have an undue influence on the estimation of grade within the domain.
A variety of statistical analyses such as top cutting, de-clustering, variographic analysis and swathe plots were applied to evaluate the integrity of the resource model. A block model was constructed with parent blocks of 50m (E) by 200m (N) by 10m (RL) and sub-blocks to 5m (E) by 10m (N) by 1m (RL). Mining Plus estimated the Ni, Co and MgO grades using Inverse Distance into cells using Datamine Studio RM software.
CLASSIFICATION CRITERIA
The Mineral Resource has been classified based on the basis of confidence in the geological model, continuity of mineralised zones, drilling density, confidence in the underlying database and the available bulk density information. The Wilconi Mineral Resource has been classified as inferred according to JORC 2012.
For and on behalf of the Board
A-Cap Energy Limited
Paul Ingram
Deputy Chairman
Competed Person Statement
Information in this report relating to Mineral Resources is based on information compiled by Mr Stephen Godfrey, the Principal Consultant of Mining Plus Pty Ltd. Mr Godfrey of Resources Evaluation Services is a Fellow of the AusIMM and a Member of the AIG. Mr Godfrey has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person under the 2012 Edition of the Australasian Code for reporting of Exploration Results Mineral Resources and Ore Reserves. Mr Godfrey consents to the inclusion of the data in the form and context in which it appears.
Information in this report relating to Exploration drill results, is based on information compiled by Mr Paul Ingram a director of A-Cap Energy Limited and a Member of AusIMM. Mr Ingram has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person under the 2012 Edition of the Australasian Code for reporting of Exploration Results Mineral Resources and Ore Reserves. Mr Ingram consents to the inclusion of the data in the form and context in which it appears.
*** Ends***
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