Indiana Resources Updates on Ntaka Hill Nickel Project

  • Oct 24, 2019 AEDT
  • Team Kalkine

Indiana Resources Limited (ASX: IDA) has announced that its local Tanzanian operating entity, Nachingwea Nickel Limited, has recently lodged a Mining Exploration and Development Plan for the Ntaka Hill Nickel Project with the Ministry of Minerals.

  • The Plan outlines a four-year work program and budget to advance Ntaka Hill to development;
  • The activities under the plan include expanded drilling programme, upgrade of existing resource model to increase measured resources, update of previous feasibility studies and initiate environmental and social impact assessments;
  • Historically, over US$60 million has been spent on exploration at Ntaka Hill, which includes definition of a total JORC compliant resource of 2 Mt @ 0.63% Ni, 0.14% Cu, 0.2% Co for 356,380t of contained nickel.

At AEST 12:57PM, the stock was trading at $0.023 per share, down by 4.16% from its previous close.

 

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