viewResource Mining Corporation Limited

Resource Mining Corporation ups JORC Resource to 125Mt at 1.06% nickel at Wowo Gap


Resource Mining Corporation (ASX: RMI) has increased the JORC Resource at its Wowo Gap Nickel Laterite Project in Oro Province Papua New Guinea by 52% to 125 million tonnes at 1.06 % nickel.

Contained nickel is up 60% to 1.32 million tonnes and the Indicated Resource has increased by 85% to 72 million tonnes at 1.03% nickel.

The Resource incorporates all new information derived from a 295 hole core drilling campaign that commenced in August 2010 and substantially increases the tonnage, grade and confidence level of the Wowo Gap deposit.

The Resource is based on the geological continuity of mineralisation, drilling density and dry insitu bulk density and a 0.8% nickel cut off grade.

Wowo Gap has a significant nickel and cobalt deposit near surface which lends itself to open cut mining, an innovative organic leaching process which is being developed to proof of concept stage, a potential source of hydro power, and potential for an export port less than 30 kilometres away.

Together with research on the company's new organic leaching technology, the new resource makes the project attractive to potential joint venture partners.

A potential site for a stand alone hydro power source has also been identified within the general area of Wowo Gap.

The outlook for nickel still remains positive as an input into steel making and the company believes the ongoing trend of industrialisation and urbanisation in Asia and India will continue.

Quick facts: Resource Mining Corporation Limited

Price: 0.009 AUD

Market: ASX
Market Cap: $2.67 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...



Things coming together nicely in Greenland, says Bluejay Mining's CEO

Rod McIllree, Bluejay Mining PLC’s (LON:JAY) chief executive, tells Proactive that all three of its projects in Greenland are shaping up nicely with plenty of interest from mining giants. Dundas is the flagship and here a bulk sample of mineral sands has been shipped to a Rio Tinto facility...

20 hours, 46 minutes ago

2 min read