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Corcel PLC - London-based mining and mineral resource development company - Completes mineral resource estimate of its recently acquired, 100%-owned Wowo Gap nickel-cobalt project in Papua New Guinea. Estimate confirms Wowo Gap as a similar size and grade deposit to the company sister project at Mambare, also in Papua New Guinea.
The deposit is estimated to contain 110 million tonnes at 0.81% nickel for 891,000 tonnes of contained nickel and 0.06% cobalt for 66,000 tonnes of contained cobalt. Says mineralisation is continuous and laterally extensive. Adds mineralisation is well constrained with host saprolite and limonite layers.
Current stock price: 1.34 pence, up 9.4% in London
12-month change: down 35%
By Heather Rydings; heatherrydings@alliancenews.com
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