Sirius Resources has grown from a junior exploration company
with a market capitalisation of less than $10 million to today being
a prospective mid-tier nickel miner with a market capitalisation
of around $700 million. This accomplishment stems from its
discovery of the major Nova nickel-copper sulphide deposit in
July 2012, and the adjacent Bollinger deposit in February 2013.
Sirius joined the ranks of the S&P ASX 200 index in 2013.
In what has been a meteoric rise, the nickel, gold and copper
explorer has received numerous awards and accolades including
the ‘Craig Oliver Award’ and ‘Digger of the Year’ for 2013.
Additionally, Chief Executive and Managing Director Mark
Bennett was named ‘Prospector of the Year’ at the Association of
Mining and Exploration Companies (AMEC) awards in September
2013
for discovering the celebrated Nova and Bollinger deposits.
AMEC commented the discovery was the most significant in
Australia for many years, and that “the Nova and Bollinger
discoveries have redefined the prospectively and geology of WA
and destroyed the myth that Australia is a mature over-explored
area that does not have the potential for major new discoveries”.
The Nova-Bollinger mineral resource currently stands at
14.6
metres @ 2.2% nickel, 0.9% copper and 0.08% cobalt which
results in contained metal of 325,000 tonnes (t) nickel, 134,000t
copper and 11,000t cobalt. Nova and Bollinger are part of the
Fraser Range joint venture located approximately 120 kilometres
east of Norseman and owned 70% by Sirius and 30% by well-known
prospector Mark Creasy.
Sirius was created with the specific aim of targeting high risk,
high reward under-explored areas with the intent of discovering
major deposits capable of delivering order of magnitude returns
to shareholders, and with the discovery of the Nova and Bollinger
deposits – it has well achieved this goal.
Moving forward, Sirius’ vision is to transform the company into
being the lowest cost nickel producer in Australia, and to use part
of the revenue likely to be generated to continue exploring and
finding additional major ore bodies. With a discovery cost so far
of 4 cents per pound of nickel, the company is currently in line
with its aims.
With a scoping study completed and a feasibility study now
underway and scheduled to be completed by mid-2014, Sirius’
expectation is that Nova-Bollinger deposit will result in a low cost
and low risk mine, with characteristics that are favoured by banks
and customers.
Bollingerstyle
Mark Bennett
Chief Executive and
Managing Director
Sirius Resources Ltd
Sirius’ jubilant achievements
Drilling at the Nova deposit
Nickel and copper
sulphide in drill core
Minesite 2013
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