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Neometals Ltd ( (AU:NMT) ) has provided an update.
Neometals Ltd has announced its first Mineral Resource Estimate (MRE) for the Ironclad Prospect at the Barrambie Gold Project in Western Australia, estimating an inferred resource of approximately 250,000 tonnes at 1.6g/t for 13,000 ounces of gold. This MRE supports the company’s strategy to prioritize the Ironclad Prospect for potential development and mining due to the mine-ability of the near-surface mineralization. The company plans to focus on extension and infill drilling, evaluation studies, and obtaining necessary approvals to make a mining decision next financial year, viewing this as the beginning of an exciting journey in the largely unexplored Barrambie greenstone belt.
More about Neometals Ltd
Neometals Ltd is a company operating in the mining industry, focusing on the exploration and development of mineral resources. The company is involved in the production and sale of minerals, with a particular emphasis on gold exploration projects in Western Australia.
Average Trading Volume: 770,998
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$51.55M
For a thorough assessment of NMT stock, go to TipRanks’ Stock Analysis page.