Resource Mining Corporation (ASX: RMI) has been granted a renewal of the tenement covering its Wowo Gap Nickel-Cobalt Project in Papua New Guinea for a further two years.
The company has also been granted two additional exploration licences adjacent to the Wowo Gap Project, adding to the potential for the company to increase the current resource.
Wowo Gap has a significant nickel and cobalt deposit near surface which lends itself to open cut mining.
The project hosts a resource of 125 million tonnes at 1.06% nickel and 0.07% cobalt based on drilling along the 12 kilometre strike length of the project. The resource remains open to the north and south.
The project is located at the south eastern end of the Papuan Ultramafic Belt.
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