JOHANNESBURG (miningweekly.com) – ASX-listed base metals company Panoramic Resources has upgraded the Savannah North resource to 175 100 t of nickel, 74 400 t of copper and 15 300 t of cobalt, representing a 60% increase in the contained nickel on the maiden resource estimate.
The combined resource at the Savannah project, in Western Australia, is now 226 400 t of nickel, 104 700 t of copper and 15 300 t of cobalt. Panoramic reported on Wednesday that the combined resources at Savannah confirmed that the project hosted a “major” mineralised system.
The 2016 Savannah North Resource estimate is 10.27-million tonnes at 1.70% nickel for 175 100 t of contained nickel. Of this, 73% of the total contained nickel at Savannah North is classified as indicated resources.
The upgraded Savannah North resource model is an integral component of the feasibility study for a restart of the Savannah operation, based on the combined Savannah and Savannah North resources. The study is scheduled for completion in December this year.
The Savannah mine was placed on care and maintenance in May this year, owing to a decade-low nickel price.