THE BOURSE WHISPERER: Independence Group has completed an initial JORC compliant Mineral Resource Estimate for the Rosie nickel-copper-platinum group elements (Ni-Cu-PGE) sulphide deposit.
The Rosie deposit is situated within the Duketon Joint Venture with South Boulder Mines, from which Independence is earning 70 per cent of the nickel rights.
The Duketon Joint Venture is locted approximately 120 kilometres north of Laverton in Western Australia.
The new Resource Estimate for the Rosie deposit does not include the C2 mineralised zones located approximately 1.7km to the north west.
Rosie cross-section with mineralisation. Source: Company announcement
The total Rosie Mineral Resource above a one per cent nickel cut-off is currently estimated at 1.74 million tonnes at 1.7 per cent nickel (29,800 nickel tonnes), 0.4 per cent copper and 1.9 grams per tonne platinum and palladium.
According to Independence’s ASX announcement it has a further phase of exploration scheduled to commence at Duketon in February.
This will be testing a number of targets including:
Strike and depth extensions of the Rosie deposit targeting thicker, higher grade zones in the “Contact” mineralised domain;
Possible repeats of Rosie-style mineralisation between Rosie and the C2 disseminated nickel sulphide discovery 1.7km to the north west; and
Higher grade zones within C2.
Independence will be incorporating its proprietary Transient Electromagnetic (TEM) system, which it said had been instrumental in the initial discovery of Rosie, during the upcoming exploratory work.