Recently, BHP Billiton, through its 17 per cent-owned Lifezone Metals, announced the results of an updated mineral resource estimate for the Kabanga nickel project in north-western Tanzania. The report shows that the project has an increased resource and a high potential for development.
According to Lifezone Metals, the total attributable measured and indicated resource for the Kabanga nickel project has been updated to 43.6 million tonnes at 2.02% nickel, 0.28% copper and 0.16% cobalt. This represents a 69 per cent increase over the February 2023 Mineral Resource Estimate and demonstrates that the size of the project's resource reserves is expanding with continued exploration and evaluation.
In addition, total attributable inferred resources are 17.5 million tonnes at 2.23% nickel, 0.31% copper and 0.16% cobalt. This means that on an inferred basis, the project also has significant resource reserves.
It is worth noting that, according to Lifezone, approximately 71% of the project's resource tonnage is currently classified in the Measured and Indicated categories at a high level of confidence relative to Inferred. This demonstrates a high level of rigour in the resource classification of the project and a high level of confidence in the inferred resource reserves.
This mineral resource update further confirms the resource richness and development potential of the Kabanga Nickel Project. This will undoubtedly have a significant impact on the future business development and investment decisions of BHP Billiton and Lifezone Metals.
[Source - CKN].
