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Neometals (ASX:NMT) - Managing Director & CEO, Chris Reed
Managing Director & CEO, Chris Reed
Source: Business News
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  • Neometals (NMT) has received encouraging results from the Armstrong Deposit at the Mt Edwards Project in Western Australia
  • The company recently carried out flotation test work to determine if the nickel mineralisation was compliant to the process
  • Samples were collected from three reverse circulation holes drilled in 2019 that aimed to determine the ability of upgrading the nickel into a concentrate
  • Furthermore, Neometals has stated the recovery of palladium was a pleasing surprise
  • Up to 48.8 per cent nickel was recovered at a grade of 12.8 per cent while 55.4 per cent of palladium was recovered at a grade of 20.4g/t
  • Neometals has now begun a detailed geological and geometallurgical program to discover the exploration potential at Mt Edwards
  • Neometals has ended Friday’s session 11 per cent in the green with shares trading at 45.5 cents

Neometals (NMT) has received encouraging results from the Armstrong Deposit at the Mt Edwards Project in Western Australia.

The company recently carried out flotation test work to determine if the nickel mineralisation was compliant to the process.

Samples were collected from three reverse circulation (RC) holes drilled in December 2019 that aimed to determine the ability of upgrading the nickel into a concentrate.

These samples were mixed into a single composite sample to mirror the nickel grade to the Armstrong mineral resource of 633,000 tonnes at 2.1 per cent nickel.

Furthermore, Neometals has stated the recovery of palladium was a pleasing surprise, intersecting up to 3g/t in samples and 20g/t in concentrate.

Up to 48.8 per cent nickel was recovered at a grade of 12.8 per cent while 55.4 per cent of palladium was recovered at a grade of 20.4g/t.

“This initial result heralds a new chapter in the advancement of the Mt Edwards project. We are thrilled to discover the presence of palladium and platinum within our already significant nickel endowment,” Managing Director Chris Reed said.

“We will pause our mining studies and focus on a geometallurgical evaluation to quantify the potential for significant co-product revenue,” he added.

Neometals has now begun a detailed geological and geometallurgical program to discover the exploration potential at Mt Edwards.

Neometals has ended Friday’s session 11 per cent in the green with shares trading at 45.5 cents in a $223.5 million market cap.

NMT by the numbers
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