PNR revives hope in Selibe Phikwe
News flow will continue with assay results from the latest phase of underground drilling
Over the past five months, Premium Nickel Resources ( PNR) has reported positive assay results from drilling at its past- producing nickel- copper- cobalt sulphide Selebi North underground ( SNUG) mine.
Previously owned by government and known as BCL, the now PNR owned mine ceased in October 2016, after making losses for a number of years, and authorities decided not to continue funding operations. In the past, Selebi Phikwe was a polymetallic operation that produced a nickel concentrate with high copper credits. Last month, the company completed the underground drilling at Selebi North that will be included in the maiden Selebi NI 43- 101 Mineral Resource Estimate. The primary focus of this drill program is to define mineralization down plunge of the existing workings that will be used to complete a MRE prepared in accordance with National Instrument 43- 101 - Standards of Disclosure for Mineral Projects ( NI 43- 101).“The objective of the Selebi MRE, expected in June, is to provide the basis to support the rapid redevelopment of these deposits using the existing shafts and infrastructure. The mineralization continues down plunge and down dip from beyond the drilling to be reported in the MRE, which is evidenced in recent drilling, BHEM results and historic drilling.
“News flow will continue with assay results from the latest phase of underground drilling,” said PNR Chief Executive Officer, Keith Morrison.
The redevelopment of the deposit is expected to resuscitate Selebi Phikwe to attract people, businesses and investors into the town, formerly a leading hub of copper mining in the southern Africa region, which saw the economy of town flourishing as job opportunities were vast due to the mine. So far, over 42 holes were released in eight separate news releases between November 14, 2023 and March. Morrison is on record citing that the company is focused on the redevelopment of the previously producing nickel, copper and cobalt resources mines and is driven by belief that the demand for these metals will continue to grow in the medium to long term, as a result of global urbanization and the increasing adoption of electric motors over internal combustion engines. “These metals are vital for achieving a lowcarbon future,” said Morrison. PNR is committed to governance through transparent accountability and open communication with its team and stakeholders. “Our skilled team has worked over 100 projects collectively, accumulating over 400 years of resource discoveries, mine development and mine re- engineering experience on projects like the Company’s Selebi and Selkirk mines.”