Selebi Mine

Overview

Resource
Initial NI 43-101 Mineral Resource Estimate - June 30, 2024
Area
The project consists of a single mining license covering an area of 115 km2
Type of deposit
~2.65-2.7Ga Ortho-Magmatic Intrusive Sill within Central Zone of the Limpopo Mobile Belt (Amphibolite-Granulite Facies)
Accessibility
Rail and power, airport, serviced by Selebi Phikwe (Pop. 52,000)

NI 43-101 Mineral Resource Estimate Summary

Premium 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.

Selebi Shaft Quick Facts

Opened in 1980, operational for 36 years
In total, 26.6 million tonnes (Mt) grading 0.58% Ni and 1.03% Cu was mined from Selebi (1980 to 2016)
Development Depth 1140m
Currently on care and maintenance

Selebi North Shaft Quick Facts

Opened in 1990, operational for 26 years
In total, 13.9 Mt grading 0.74% Ni and 0.66% Cu was mined from Selebi North (1990 to 2016)
Development Depth 970m
Currently on care and maintenance

Stay Connected

Premium Resources Ltd.

Register to receive news via email from Premium Resources Ltd.