EXPLORATION & DEVELOPMENT

Huge low-grade nickel-cobalt resource added to Aston mix

TOLGA Kumova’s Aston Minerals has outlined a billion tonne low-grade nickel-cobalt sulphide resource at its Edleston exploration project in Ontario, Canada.

 Huge low-grade nickel-cobalt resource added to Aston mix

The primarily inferred Boomerang resource totals 1.04Bt grading 0.27% nickel and 0.11% cobalt, for 2.8 million tonnes of contained nickel and 115,000t of cobalt.

The resource is modelled to maximum depth of 847m, has width ranges of 100-650m, and strike length of 4.4km.

Aston's thesis is the "broad nature of mineralisation at Boomerang, its amenability to conventional beneficiation, access to environmentally responsible hydroelectric power, availability of local skilled labour and a well-established mining legislature, ideally positions this project to be a globally significant nickel and cobalt mine (that is) set to meet a significant portion of the soaring demand from the EV battery industry over the coming decades".

Aston said future exploration programs would aim to increase the higher grade areas of the resource.

Last month Aston reported a 1.5 million-ounce gold resource at Edleston, with about two-thirds of the total 48Mt at 1 gram per tonne gold in the inferred category.

Aston had $5.4 million cash at the end of the December quarter.

Shares in Aston were up 5.7% to 93c, capitalising the company at $103 million.

Kumova, Aston's executive chairman, is a Melbourne-based resource sector promoter.

Aston's managing director is Dale Ginn.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

MiningNews.net Research Report 2024

Access a multi-pronged tool to identify critical risks and opportunities in Australia’s mining industry.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.