[Ferro-Alloys.com] 

A new nickel deposit was discovered in Kabanga

Shares in Lifezone Metals, 17% owned by BHP, rose in the early hours of Monday’s trading session on news about a high-grade nickel discovery at its Kabanga project in northwest Tanzania.

Among the highlight results from last year’s drilling program was hole KL23-29 that returned 15.1 metres grading 2.24% nickel, 0.24% copper and 0.18% cobalt (2.83% nickel-equivalent), according to a news release on Monday. Hole KL23-27 returned 7 metres grading 2.84% nickel, 0.30% copper and 0.22% cobalt, (3.56% nickel-equivalent). The holes are located 150-300 metres northeast of the existing resources at the Tembo zone.

The project has a current resource estimate of 25.8 million tonnes at 2.63% nickel, 0.35% copper and 0.2% cobalt in the measured and indicated category, and 14.6 million tonnes at 2.57% nickel, 0.34% copper and 0.18% cobalt in the inferred category. The metals have a recovery percentage of 87.2% for nickel, 85.1% for copper and 88.1% for cobalt.

• [Editor:邢亚敏]