Widgie Nickel has declared its maiden independent mineral resource estimate (MRE) of 481,000t at 0.59% Li2O (0.30% Li2O cut-off) in the southern starter pit location to a maximum depth of 65m at its Faraday Lithium Project in Western Australia.
Field mapping confirms Faraday pegmatite extends 300 metres to the north of the maiden MRE envelope, more than doubling the potential strike extent.
Aggressive drilling program has commenced to grow the mineralresources and to upgrade the remained of the MRE to indicated status.
Lithium activities are consistent with Widgie’s strategy to create value for shareholders by commercialising our expanding mineral inventory which now contains a pipeline of lithium and nickel sulphide development opportunities.
Managing Director and CEO Mr Steve Norregaard said in just a few months from November 2022 to now be declaring a maiden lithium resource demonstrates Widgie’s resolve to capitalise on the strong demand fundamentals for battery metals.
“This is just the beginning of a growth story, as we roll our sleeves up to realise value for shareholders in the short term, we have also got our eyes firmly focussed on expanding our lithium vision for the Company and its future.
“The Faraday Lithium Project has all the hallmarks of a very low-cost development able to be commercialised in the near term. Interest in the DSO from industry participants is growing rapidly and we expect to provide updates on this in the coming quarter.”
