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Pacific Nickel Mines (ASX:PNM) updates market on Solomon Islands projects
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  • Pacific Nickel Mines (PNM) has updated the market regarding its nickel laterite direct shipping ore (DSO) projects in the Solomon Islands
  • The company has acquired an 80 per cent interest in Kolosori Nickel who owns PL 05/19 which consists of the Kolosori Nickel Project
  • Following the granting of a business licence for PL 05/19, Pacific Nickel will undertake drilling at Kolosori
  • All up, the company will drill 224 holes and will use the core to provide metallurgical information needed to market a DSO product
  • Pacific Nickel has completed an initial 27-hole drilling program at its Jejevo Nickel Project which aimed to confirm historical drill and resource estimates
  • Samples have been sent to ALS in Brisbane and results are set to be reported on in due course
  • Michael James has been appointed as General Manager, Project Development and will primarily focus on the development of Kolosori
  • Pacific Nickel has ended the day 8 per cent in the red with shares trading at 4.6 cents

Pacific Nickel Mines (PNM) has updated the market regarding its nickel laterite direct shipping ore (DSO) projects in the Solomon Islands.

Business licence for Kolosori

Pacific Nickel has acquired an 80 per cent interest in Kolosori Nickel with the remaining 20 per cent held by traditional landowners.

Kolosori Nickel owns PL 05/19 which consists of the Kolosori Nickel Project on Santa Isabel Island in the Solomon Islands.

Following the granting of a business licence for PL 05/19, Pacific Nickel will undertake drilling at Kolosori.

All up, the company will drill 224 holes and will use the core to provide metallurgical information needed to market a DSO product.

Resindo Resources and Energy Group has been appointed to lead the feasibility study work for the project.

Resindo is aiming to identify and design a port suitable for direct ship operations.

Furthermore, Mining One and Pacific Nickel are working together to lodge a mining lease application.

Finally, Pacific Nickel has begun an environmental impact study and has engaged a local environmental assessment group to undertake water monitoring and a cultural heritage survey.

Jejevo Nickel Project

Pacific Nickel has completed an initial 27-hole drilling program at its Jejevo Nickel Project which aimed to confirm historical drill and resource estimates.

This work also aimed to prepare an independent resource assessment and provide metallurgical samples for marketing discussions.

Samples have been sent to ALS in Brisbane and results are set to be reported on in due course.

Staff appointment

Michael James has been appointed as General Manager, Project Development and he will be based in the Solomon Islands.

He has over 40 years experience in mining and construction and has spent the last 15 years working I the Asia Pacific region.

In this role, Michael will primarily focus on the development of Kolosori.

"Pacific Nickel is advancing well with engineering studies at the Kolosori Nickel Project, and this is further complemented by the appointment of Mike James as Project Development Manager," CEO and Executive Director Geoff Hiller said.

"We are pleased we have been granted a provincial business licence for the Kolosori Project which further demonstrates the support of the local landowners and the Solomons Island Government to progress the project," he added.

Pacific Nickel has ended the day 8 per cent in the red with shares trading at 4.6 cents in a $10.32 million market cap.

PNM by the numbers
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