Business
Investee Company Update: Peak Nickel Ltd
Investee Company Update: Peak Nickel Ltd.
About this update from Ormonde Mining Plc
[{"type":"text","content":"\n\n9 August 2024\nOrmonde Mining plc\n(\"Ormonde\" or the \"Company\")\n \nInvestee Company Update: Peak Nickel Ltd\n \nDrilling resumes at the Rodburn high-grade Ni-Cu-Co project in Aberdeenshire, Scotland\n \nOrmonde Mining plc (AQSE: ORM), a natural resources company with investment exposure to exploration assets including gold and copper in Newfoundland and battery metals in Scotland, notes an announcement on 7 August 2024 by its investee company Peak Nickel Ltd (\"Peak Nickel\").\n \nPeak Nickel announced it has commenced its 2024 drill programme at its Rodburn project in Aberdeenshire, Scotland, which Peak Nickel describes as the \"highest grade battery metals project in the UK\". The 2024 drill programme will see Peak Nickel drill a minimum of 1,000 metres over the coming weeks, building on last year's 2,600 metre drill programme.\n \nBrian Timmons, Executive Chair of Ormonde, commented:\n \n\"Peak Nickel's Rodburn Project is in a tier one jurisdiction with indications of significant size. Ormonde believes Rodburn's resource has good potential for enlargement, and we expect this drilling programme will be an important step towards achieving that goal. The opportunity to define a battery metals resource of scale within Europe, reducing supply reliance on external sources, is compelling.\"\n \nThe full announcement issued by Peak Nickel appears below:\n\n \n\n \nDrilling resumes at the Rodburn high-grade Ni-Cu-Co project in Aberdeenshire, Scotland\nPeak Nickel Limited (\"PNL\" or the \"Company\") is pleased to provide an update on exploration activities at Rodburn, the highest-grade battery metals project in the UK, where the 2024 drill programme is now underway.\n \nDuring 2023 the Company conducted an 18-hole 2,600m drill programme to test the areas around historically identified, non-compliant mineral resources (for more details refer to PNL press releases dated 21st February 2024 and 2nd March 2024). As a result, a new Mineral Resource Estimate was defined as outlined below.\n \n\n\n\n\nResource\n\n\nMt\n\n\nNi (%)\n\n\nCu (%)\n\n\nCo (ppm)\n\n\n% NiEq.\n\n\n\n\nInferred Mineral Resource\n\n\n4.3\n\n\n0.54\n\n\n0.28\n\n\n364\n\n\n0.72\n\n\n\n\nIncluding\n\n\n2.9\n\n\n0.67\n\n\n0.35\n\n\n457\n\n\n0.90\n\n\n\n\n \nThe drill programme was ...