Resource Mining Corporation lands licensing green light for Tanzanian nickel exploration
Proactive Investors
Published Feb 09, 2023 10:13
Updated Feb 09, 2023 10:30
Resource Mining Corporation lands licensing green light for Tanzanian nickel exploration
Resource Mining Corporation Ltd (ASX:RMI) has been awarded four exploration permits by the United Republic of Tanzania’s Ministry of Minerals’ Mining Commission, covering key nickel prospects in Tanzania previously explored by BHP/Albidon.
These permits had been applied for in 2021 by Massive Nickel Tanzania Limited and following Resource Mining Corporation’s acquisition of that entity, the permits have been awarded to RMI.
Along strike from Kabanga
This takes RMI’s exploration permit tally to eight granted licences, including the ground along strike from the Kabanga Nickel Project, which has a mineral resource estimate of 58 million tonnes at 2.62% nickel, or nickel equivalent grade – including cobalt and copper – at 3.14%.
Other permits cover the Kapalagulu mafic/ultramafic intrusion and they contain historical reports noting nickel, platinum group elements and copper anomalism; and Kitai, a permit demonstrating multiple targets derived from previous geophysical and soil sampling.
Milestone for the company
The securing of these permits is a significant milestone for RMI and a testament to the company's commitment to creating value through finding and developing economic mineral deposits.
RMI also paid tribute to the Tanzanian Government’s ‘pro-business approach’ and support for building a mineral extractive industry in the country.
The permits will allow RMC to carry out exploration activities in these areas, including geophysical and geochemical surveys, drilling and other fieldwork, to further assess the potential of these prospects.
Recently appointed CEO Andrew Nesbitt said: “We are thrilled to receive these exploration permits from the Tanzanian Government.
"This allows RMC to start taking advantage of the work previously carried out by BHP (ASX:BHP) and Albidon which identified drill-ready targets for the benefit of RMC shareholders.
“RMC is well-positioned to advance these prospects and is committed to working closely with the Tanzanian Government and local communities to ensure that its activities have a positive impact on the local economy and environment.”
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