Hengjaya Resource Estimate

PT GMT Indonesia has reported JORC compliant resources within the Hengjaya project concession area. The HM Mine is one of the largest tonnage, high grade operations in close proximity to the IMIP in central Sulawesi.  Using a 1.0% Ni cut-off grade, the HM Mine hosts a JORC compliant resource of 180 million dry tonnes at 1.3% Ni and 0.08% Co, containing 2.3 million tonnes of contained nickel and 140,000 tonnes of contained cobalt as follows:

Capture.PNG

A complete copy of the Technical Assessment Report prepared by PT. GMT Indonesia can be seen by clicking the following link:

Technical Assessment Report

Tonnage/grade data at various cut-off grades for nickel within the Hengjaya concession. The chosen cut-off grade at 1.00% nickel is based on the recent MOU between Nickel Mines and a consortium associated with the IMIP for an HPAL circuit that will receive lower grade nickel ore.

Tonnage/grade data at various cut-off grades for nickel within the Hengjaya concession. The chosen cut-off grade at 1.00% nickel is based on the recent MOU between Nickel Mines and a consortium associated with the IMIP for an HPAL circuit that will receive lower grade nickel ore.