File photo for illustration
Australia-listed Armada Metals, one of multiple explorers active in Zimbabwe says exploration has shown new near-surface nickel, copper, platinum and palladium mineralisation at its Bend prospect in the country.
According to the mining concern, the project has the potential to host high grades of Ni, Cu and PGEs, and that previous work may have failed to fully assess the potential of this historically-drilled deposit.
With the Bend Nickel Project in Zimbabwe, Armada has the right to earn into an initial 50% of the Bend Nickel Project, increasing to 80% via a two-stage earn-in process.
The Project covers an area of approximately 12km2, within which the Bend Nickel Deposit is located.
This follows Armada’s recently signed binding term sheet to acquire an 80% controlling interest in the Bend Nickel Project in Zimbabwe from Reliant Nickel Limited, a UK private limited company.
The earn-in to the Bend Nickel Project provides the Company control over a highly prospective nickel asset and area in Zimbabwe, with drilling commencing in Q3 2023.
With this transaction, Armada reinforced its commitment to expanding its nickel exploration portfolio to capitalise on the growing global demand for critical metals.
Zwnews
