SABRE RATTLING FOR CANNON


The Nickel rush continues unabated as EV manufacturers run the ruler over prospective future suppliers in stable jurisdictions. WA explorer Cannon Resources looks set to join the pack with a maiden JORC at their Sabre deposit.


Cannon Resources Limited has announced the completion of a maiden Mineral Resource for the Sabre prospect at the Company’s Fisher East Nickel Project. The Sabre Mineral Resource is 1.8 Mt @ 1.4% Ni for 24.5 Kt of contained nickel at a cut–off grade of 0.9% Ni (JORC 2012).

The Fisher East Project now has a total of 116,300 tonnes of contained nickel in 4 high grade Class 1 JORC 2012 resources at Musket, Camelwood, Cannonball and Sabre.

Sabre is a channelised komatiite hosted nickel deposit sharing the same genesis, mineralisation style and host stratigraphy as Cannon’s 3 other Fisher East nickel deposits of Musket, Camelwood, and Cannonball. Sabre is 6 km south of Musket and the 4 deposits are all located on an 8 km section of the basal komatiite/sediment contact on 100% Cannon tenure.


Highlights:

  • Cannon delivers a maiden JORC 2012 Mineral Resource for the Sabre deposit at Fisher East of 1.8 Mt @ 1.4% Ni for 24.5 Kt contained nickel

  • Fisher East Project now contains 116,300 t of nickel in 4 separate deposits – Musket, Camelwood, Cannonball, and Sabre

  • Sabre is 6 km south of Musket and is a separate channelised Kambalda style deposit on the same geological contact as Musket, Camelwood and Cannonball

  • Sabre resource has been drilled over a strike length of 600 metres and to a maximum depth of just 300 metres and remains open laterally, internally and down plunge

  • Diamond drilling currently underway at Sabre testing higher grade extensions to the resource at targets above 300 metres


Cannon CEO, Steve Lynn commented:

“Cannon is pleased to achieve another milestone with the release of the maiden resource for Sabre. At 24.5 kt of contained nickel the resource is already of a substantial size with plenty of growth upside.

The Sabre channel is very extensive and looks to be at least 700 metres wide and remains undrilled on the margins and only partly drilled to a maximum depth of 300 metres. Given the style and scale of the mineralisation intersected to date, we remain confident that the mineralisation will also extend down plunge.


Additionally, we have interpreted a series of higher grade zones inside the resource that we will immediately target with extensional drilling using the current on-site drill rig. We see outstanding potential for resource growth in the sub-300m zone as well as down plunge extension and look forward to updating the market as the drilling results are received.

Looking at the total nickel inventory so far identified at Fisher East, it is shaping up to be a substantial and significant high grade Class 1 nickel field with 4 resources identified to date, all with mineralisation near surface, all expandable and all open at depth.”