The Company’s Carlingup Project includes four currently known nickel sulphide deposits at RAV1, RAV4, RAV4 West, and RAV8 spread along about 10 kilometres of strike length. These deposits contain shallow mineralisation open in most directions with an inferred resource at RAV8 of 13.2 million tonnes at 0.6% Ni for 75,100 tonnes of Ni and a combined exploration target at RAV1, RAV4 and RAV4 West of 300,000 tonnes at 0.9% Ni for 2,800 tonnes of Ni to 9,800,000 tonnes at 0.4% Ni for 41,200 tonnes of Ni. These exploration targets are based on information that is conceptual in nature noting that there has been insufficient exploration to estimate a mineral resource and that it is not certain if further exploration will result in the estimation of a mineral resource.
In addition, the Company’s John Ellis laterite nickel deposit contains 16.0 million tonnes at 0.56% Ni for 90,300 tonnes of Ni. Importantly the historical high grade RAV8 nickel mine which produced 16,100 tonnes of nickel at 3.45% demonstrates the potential for finding high-grade massive sulphide mineralisation at all the known deposits and virgin blind deposits yet to be discovered.
It is anticipated that NIS will list on the ASX during October 2021.
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