Business
Lifezone Metals Announces Significant Mineral Resource Update for its Kabanga Nickel Project in Tanzania
Successful Infill Drill Program and Updated Interpretation Leads to a 69% Increase in Measured and Indicated Resources Plus a 20% Increase in Inferred Resources
About this update from Lifezone Metals Limited
[{"type":"text","content":"Successful Infill Drill Program and Updated Interpretation Leads to a 69% Increase in Measured and Indicated Resources Plus a 20% Increase in Inferred Resources NEW YORK / Dec 07, 2023 / Business Wire / Lifezone Metals Limited (NYSE: LZM) is a modern metals company creating value across the battery metals supply chain from resource to metals production and recycling. Lifezone Metals’ Chief Executive Officer, Chris Showalter is pleased to announce the Mineral Resource Update for the Kabanga Nickel Project, located in north-west Tanzania. The November 2023 Mineral Resource Update reflects the results of Lifezone Metals’ 2021-2023 drilling programs and an updated mineralization interpretation, reconfirming the continuity of high-grade nickel mineralization at Kabanga. The Kabanga Nickel Project is currently 69.7% owned by Lifezone Metals and all Mineral Resources are shown on an attributable to Lifezone Metals basis. Mr. Showalter commented: “Kabanga continues to demonstrate its exceptional quality and world-scale. The significant increase in the Measured and Indicated Mineral Resources provides a solid foundation for the ongoing Definitive Feasibility Study, which is expected to be completed by the end of Q3 2024. We believe that Kabanga has the potential to become a low-cost, long-life and environmentally responsible producer of nickel, copper and cobalt, which are critical metals for the green energy transition. We look forward to advancing the Project in close coordination with the Government of Tanzania, who have been highly supportive of our efforts.” Highlights of the November 2023 Mineral Resource Update: Attributable Measured and Indicated Resources total 43.6 million tonnes grading 2.02% nickel, 0.28% copper and 0.16% cobalt (2.57% nickel-equivalent). Plus, attributable Inferred Resources totaling 17.5 million tonnes grading 2.23% nickel, 0.31% copper and 0.16% cobalt (2.79% nickel-equivalent). Significantly, 71% of Kabanga’s Mineral Resource tonnage is now classified in the higher confidence Measured and Indicated categories relative to Inferred. Measured and Indicated Mineral Resource tonnages have increased by 69% relative to the February 2023 Mineral Resource Estimate. Nickel-equivalent metal contained in Measured and Indicated Resources has increased by 30%. Inferred Resources have also increased in tonnage by 20%, w...