Cannon Resources’ Sabre Update Increases Fisher East to 134,100 Tonnes Contained Nickel

THE DRILL SERGEANT: Cannon Resources (ASX: CNR) reported a Mineral Resource update for the Sabre prospect at the company’s Fisher East nickel project in Western Australia.

The JORC 2021-complaint Sabre Mineral Resource now stands at 2.9 million tonnes at 1.5 per cent nickel and 0.4 grams per tonne palladium and platinum (Pd+Pt) for 42,300 tonnes of contained nickel and 32,800 ounces (Pd+Pt) at a cut–off grade of 0.9 per cent nickel.

The Fisher East project now has a total of 134,100 tonnes of contained nickel at an average grade of 1.8 per cent nickel in four high-grade sulphide JORC 2012 resources at the Musket, Camelwood, Cannonball and Sabre deposits.

The updated resource extends over a strike length of 670 metres and to a vertical depth of approximately 300m.

The resource remains open along strike and down plunge.

“The Sabre resource update to 42,300 tonnes of nickel is a significant advancement on our understanding of this mineral system and is a 72 per cent uplift on the maiden Sabre resource delivered in April 2022,” Cannon Resources CEO Steve Lynn said in the company’s ASX announcement.

“This update has delivered both an increase in tonnes and an increase in nickel grade.

“Now Sabre is proving to be a deposit of scale at up to 700 metres strike extent, with substantial further resource growth likely as mineralisation is only defined down to 300 metres depth and remains open.

“Cannon listed on the ASX on 12 August 2021, exactly 12 months ago.

“In that time, we have discovered 56,100 tonnes of new nickel resource – all at Fisher East; at a discovery cost of $104 per nickel tonne.

“Both are industry leading metrics.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@cannonres.com.au

 

Web: www.cannonres.com.au