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Auroch Minerals (ASX:AOU) Managing Director Aiden Patel shared the company’s recent success on the Saints Nickel project, where two drill-holes intercepted significant nickel sulphide deposits outside of its Saint Patricks project. Announcing recent aims to upgrade the current Saints Nickel project mineral resource, currently 1.02Mt at 2.0 percent nickel, for a total of 21,400kt of contained nickel.
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The company has six projects, with three located in Southern Australia that focus on zinc-copper and three in Western Australia that mine nickel.
Auroch Minerals’ Leinster, Saints and Nepean projects are in the Norseman Wiluna Greenstone Belt, a tier-one jurisdiction that holds some of the best nickel sulphide deposits in the world. During the interview, Patel said,”We believe we’re sitting on 40 to 50,000 tonnes of nickel across three projects.”
“Our three key focus projects are the high-grade nickel sulphide projects in Western Australia. We do have the high-grade resource of over 21,000 tons of contained nickel at an average grade of two percent. So far this year, we’ve had some fantastic results already, drilling holes outside that existing resource, leading us to expect a resource upgrade,” Patel further shared.
Western Australia is poised to increase its global market share on the battery market, forecasted to increase to AU$150 billion by 2030. Auroch Minerals’ high-grade nickel projects are rare in Tier One jurisdictions. Patel said, “I think it’s a globally unique offering that we have here in Western Australia. It’s certainly home to some very large, high-grade nickel sulphide deposits — some of those are directly along strike from our projects.”
Regarding Auroch Minerals’ place on the market, Patel notes, “Once we publish this scoping study with our NPV numbers, we can show the market that we really are undervalued on existing resources. Forecasts point to insufficient supply and increased nickel demand, which is a good position for us.”
According to Patel, the company is currently in a strong financial position, possessing approximately AU$7 million, a sufficient amount to further projects during 2022. Patel notes, “Historically, a discovery of nickel sulphides was a way to take your share price to the next level — so we really are working hard.”
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The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.