LONDON, 23 January 2024, New Generation Minerals is pleased to announce it has entered into an option agreement with Carnavale Resources (ASX: CAV) to acquire an 80% interest in the Grey Dam Nickel-Cobalt Project, close to Kurnalpi in Western Australia.
The Grey Dam nickel-cobalt deposit is shallow and flat lying, with the laterite style mineralisation occurring from surface to approximately 50m depth. The project is located 80km east of Kalgoorlie, Western Australia with excellent local infrastructure including sealed roads, airport and mining related contract services.
The Grey Dam Nickel-Cobalt Project has a Total Mineral Resource (JORC 2012) of 14.6Mt at 0.75% nickel and 0.049% cobalt for 110,000t of nickel metal and 7,200t of cobalt metal, with over 70% of that resource in the Indicated category. As shown in the figure below, the resource presents as a shallow flat lying blanket of mineralisation, 1.3km x 1.0km and 20-40m thick.
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