Aston Minerals Limited (ASX: ASO) has recently completed an updated Mineral Resource Estimate for the Boomerang Nickel-Cobalt Sulphide System at the Edleston Project in Ontario, Canada. The updated estimate, based on a 0.265% NiEq1 cut-off grade, includes an Indicated Mineral Resource of 231 Mt at 0.27% Ni and 0.011% Co, showing a significant 44% increase in Indicated tonnes compared to the maiden resource announced in February 2023. This represents a substantial amount of 629 kt of nickel and 25 kt of cobalt.
Moreover, the Inferred Mineral Resource now stands at 1,039 Mt at 0.27% Ni and 0.011% Co, a 17% increase in Inferred tonnes compared to the previous estimate. These resources, containing 2.8 Mt of nickel and 110 kt of cobalt, are located in both the B2 and Bardwell deposits.
The overall Global Mineral Resource Estimate has increased by 22%, totaling 1,270 Mt at 0.27% Ni and 0.011% Co. The deposits are still open at depth and along strike, indicating potential for further resource expansion.
The updated resource estimate is the result of 5,640 m of additional drilling, totaling 32,898 m drilled to date. Managing Director Russell Bradford expressed satisfaction with the progress, highlighting the successful achievement of the objectives set out in the 2023 drilling program.
The Company plans to continue with metallurgical testing and develop a feasibility study for the project, aiming to establish the economic viability of the nickel-cobalt sulphide deposits. Regional exploration targets are also being evaluated for potential future drilling programs in 2025. Aston Minerals is positioning itself as a significant player in the critical minerals space, focusing on supplying the growing demand for electric vehicles globally.
