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.