Mineral Resources
The Mineral Resource estimate was completed by Mr Richard Sulway of FQM, with the assistance of RNO geological staff in the period 2020 to 2021. The Mineral Resource was
estimated using a combination of ordinary kriging and multiple indicator kriging of element grades into detailed
geology model volumes of the respective nickel laterite domains. Dry bulk density values were assigned to the
models based on core based values (caliper method) or in selected areas of the Shoemaker-Levy deposits,
downhole geophysics.
The resulting estimates were classified as Measured, Indicated and Inferred Mineral Resources in accordance with the guidelines of the Standards on Mineral Resources and Reserves of the Canadian Institute of Mining, Metallurgy and Petroleum (CIM Estimation of Mineral Resources & Mineral Reserves Best Practice Guidelines, CIM November 2019). The classification was guided by confidences in the geology, estimation methods and the resulting grade estimates in addition to the degree of geological continuity, the drill hole grid spacing and sample analysis.
The models were depleted for mining (where relevant) and reported using a 0.3% nickel cut-off grade. Mineral
Resources that are not Mineral Reserves do not have demonstrated economic viability. Fe, Al, Mg and Ca
estimates do not constitute part of the Mineral Resource or Mineral Reserve. They are included as additional
information relevant to beneficiation and leaching performance.
Mineral Resource inclusive of stockpiles - as at December 31, 2023, cut-off grade 0.3% Ni
| Deposit |
Classification |
Tonnes (Mt) |
Ni (%) |
Co (%) |
Fe (%) |
Al (%) |
Mg (%) |
Ca (%) |
CO3 (%) |
Cu (g/t) |
Zn (g/t) |
| Halleys |
Measured |
2.4 |
0.61 |
0.03 |
11.77 |
1.71 |
5.56 |
1.61 |
- |
- |
- |
| Indicated |
2.6 |
0.56 |
0.03 |
13.50 |
2.79 |
6.27 |
0.99 |
- |
- |
- |
| Total Meas. plus Ind. |
5.0 |
0.58 |
0.03 |
12.67 |
2.27 | 5.93 |
1.29 |
- |
- |
- |
| Inferred |
0.3 |
0.62 |
0.03 |
10.59 |
1.25 |
9.70 |
1.80 |
- |
- |
- |
| Hale-Bopp |
Measured |
21.6 |
0.55 |
0.03 |
11.83 |
1.51 |
5.52 |
0.52 |
- |
- |
- |
| Indicated |
15.4 |
0.55 |
0.03 |
11.50 |
1.65 |
8.05 |
0.77 |
- |
- |
- |
| Total Meas. plus Ind. |
37.0 |
0.55 |
0.03 |
11.69 |
1.57 |
6.57 |
0.62 |
- |
- |
- |
| Inferred |
1.2 |
0.47 |
0.02 |
9.51 |
1.73 |
10.71 |
1.49 |
- |
- | - |
| Shoemaker-Levy |
Measured |
71.0 |
0.57 |
0.03 |
12.78 |
1.29 |
3.50 |
1.89 |
- |
- | - |
| Indicated |
100.1 |
0.55 |
0.03 |
12.43 |
1.65 |
4.15 |
1.53 |
- |
- |
- |
| Total Meas. plus Ind. |
171.1 |
0.56 |
0.03 |
12.58 |
1.50 |
3.88 |
1.68 |
- |
- |
- |
| Inferred |
9.5 |
0.47 |
0.02 |
10.80 |
1.28 |
6.88 |
2.69 |
- |
- |
- |
| Nindilbillup |
Inferred |
26.7 |
0.53 |
0.03 |
12.93 |
2.38 |
5.82 |
0.38 |
- |
- |
- |
| Shoemaker-Levy North |
Inferred |
30.5 |
0.52 |
0.02 |
11.20 |
2.71 |
3.32 |
0.79 |
- |
- |
- |
| Total Resources |
Total Measured |
95.0 |
0.57 |
0.03 |
12.54 |
1.35 |
4.01 |
1.57 |
- |
- | - |
| Total Indicated |
118.1 |
0.55 |
0.03 |
12.33 |
1.67 |
4.70 |
1.42 |
- |
- |
- |
| Total Meas. plus Ind. |
213.0 |
0.56 |
0.03 |
12.42 |
1.53 |
4.40 |
1.49 |
- |
- |
- |
| Total Inferred |
68.2 |
0.52 |
0.02 |
11.79 |
2.36 |
4.95 |
0.91 |
- |
- | - |
| Stockpiled Resources |
Measured |
16.4 |
0.56 |
0.02 |
9.01 |
0.83 |
8.91 |
2.04 |
8.60 |
- |
- |
This 2023 Mineral Resource estimate has been prepared by independent consultant and qualified person, Richard Sulway
(QP) MAppSc (Geological data processing), BAppSc (Hons, Applied Geology), MAusIMM (CP), Consulting Geologist, FQM (Australia) Pty Ltd and verified by David Gray (QP) BSc(Hons, Geology), MAusIMM, FAIG, Group Mine and Resource Geologist, FQM (Australia) Pty
Ltd.
Mineral Reserves
The Mineral Reserve for RNO inclusive of stockpiles, as at December 31, 2023, is presented in the following
table. The life of mine Mineral Reserve is defined using a 0.3% nickel cut-off grade. The estimate is derived
from conventional optimization processes, detailed stage and ultimate pit designs and life of mine production
scheduling. Mg and Ca estimates do not constitute part of the Mineral Resource or Mineral Reserve. They are
included as additional information relevant to beneficiation and leaching performance.
In addition to the stockpiles there is also an intermediate beneficiated product that is held within the processing
surge (buffer) ponds. At the end of December 2022 the quantity of this material (considered as Proven Reserve)
was 75,000 tonnes @ 1.00%Ni.
At the current throughput rate the remaining life of mine is 17 years.
Mineral Reserves - as at December 31, 2023, and reported based on a 0.3% nickel cut-off grade
| Classification |
Ore (Mt) |
Ni (%) |
Co (%) |
Ca (%) |
Mg (%) |
| Limonite Ore |
| Total Proven |
59.8 |
0.60 |
0.03 |
0.6 |
2.1 |
| Total Probable |
61.6 |
0.59 |
0.03 |
0.5 |
2.0 |
| Total Mineral Reserves |
- |
- |
- |
- |
- |
| Saprolite Ore |
| Total Proven |
21.8 |
0.45 |
0.02 |
4.2 |
7.6 |
| Total Probable |
23.6 |
0.46 |
0.02 |
3.5 |
8.2 |
| Total Mineral Reserves | - | - | - |
- | - |
| Total Ore in Pits |
| Total Proven |
81.5 |
0.56 |
0.03 |
1.5 |
3.6 |
| Total Probable |
85.3 |
0.56 |
0.03 |
1.4 |
3.7 |
| Total Mineral Reserves |
166.8 |
0.56 |
0.03 |
1.5 |
3.7 |
| Stockpile |
| Total Proven |
16.4 |
0.56 |
0.02 |
2.0 |
8.9 |
| Total Probable |
- |
- |
- |
- |
- |
| Total Mineral Reserves | - | - | - |
- | - |
| Reserve including Stockpile |
| Total Proven |
97.9 |
0.56 |
0.03 |
1.6 |
4.5 |
| Total Probable |
85.3 |
0.56 |
0.03 |
1.4 |
3.7 |
| Total Mineral Reserves |
183.2 |
0.56 |
0.03 |
1.5 |
4.1 |
This Mineral Reserve estimate as at December 31, 2023, has been prepared and verified by independent consulting Mining Engineer,
Anthony Cameron of Cameron Mining Consulting Ltd. Anthony Cameron is a qualified person and holds the following valid qualifications:
BE (Mining), Grad Dip Bus, M Comm. Law, FAusIMM