Premium Nickel Resources Ltd. completed an NI 43-101 Mineral Resource Estimate (MRE), effective June 30, 2024, for the Selebi Main and Selebi North deposits, confirming that these deposits are significantly larger than previously understood. The report highlights a total resource of 27.7 Mt across indicated and inferred categories, with the Selebi Main deposit increasing by 67% and Selebi North by 90% from historical estimates.
Click here to download the Selebi Mines NI 43-101 Technical Report
Selebi Main Deposit
- Inferred MRE: 18.89 Mt at 3.51% CuEq or 1.70% NiEq.
Selebi North Deposit
- Indicated MRE: 3.00 Mt at 2.92% CuEq or 1.42% NiEq.
- Inferred MRE: 5.83 Mt at 3.11% CuEq or 1.51% NiEq.
This initial estimate reaffirms our confidence in the potential for continued resource growth at Selebi.
Notes: 1. CIM (2014) definitions were followed for mineral resources. | 2. Mineral resources are estimated at a NSR value of $70/t. | 3. Mineral resources are estimated using long-term prices of US$10.50/lb Ni and US$4.75/lb Cu and a US$: BWP exchange rate of 1.00:13.23. | 4. Mineral resources are estimated using nickel and copper recoveries of 72.0% and 92.4% respectively, derived from metallurgical studies which consider a conceptual bulk concentrate scenario. | 5. Bulk density has been estimated and averages 3.39 t/m3 at Selebi Main and 3.60 t/m3 at Selebi North. | 6. Mineral resources are reported within conceptual underground reporting shapes considering a minimum thickness of 1.5 metres. | 7. There are no mineral reserves. | 8. Mineral resources that are not mineral reserves do not have demonstrated economic viability. | 9. Totals may not add or multiply accurately due to rounding.
