History of Wowo Gap

Wowo Gap has a long history of exploration dating back to the 1950s. Here is a timeline of significant exploration milestones at Wowo Gap.

WOWO GAP TIMELINE

1996 Purchase of Wowo Gap EL1165 by Cobra Resources Limited (now Resource Mining Corporation Limited (ASX:RMI)) held in subsidiary company Niugini Nickel Ltd.
1998 Joint venture with Anaconda Nickel Limited (now Minara Resources Limited (ASX:MRE)) one of the world’s Top 10 nickel producers.
1998 Exploratory diamond drilling adjacent to Bereruma Creek finds samples to contain between 1.2 and 1.7 percent nickel.
1999 Anaconda assigns a Net Present Value (NPV) to Wowo Gap of A$572 million following a Scoping Study into High Pressure Acid Leach (HPAL) development option.
2000 Scout drilling using light weight Wacker rig.
2003-2005 Diamond drilling using man portable drill rigs.
2006 Resource estimate of 120 million tonnes of 1.2 percent nickel and 0.1 percent cobalt published.
2007-2008 Further diamond drilling and ground penetrating radar surveys.
2008 Metallurgical testwork on Heap Leach, Atmospheric Leach and HPAL options.
2008 Inferred mineral resource estimate of 100 million tonnes at 1.02 percent nickel, 0.08 percent cobalt over a strike length of 8 kilometres.
2008 Scoping study identifies mine development options with the most favoured option costing between US$300 and US$600 million with an Internal Rate of Return (IRR) of up to 24 percent based on a Heap Leaching model.
2009 Updated Resource Estimate: Indicated and Inferred resource of 89 million tonnes at 1.01 percent nickel and 0.06 percent cobalt.
2009 Feasibility Study into HPAL development option yielded an NPV of A$272 million and IRR of 16%.
2009 Independent project valuation of A$168 million.
2010-2011 Auger drilling using new light weight man portable drill rigs.
2011 Organic leach technology, metallurgical testwork and Scoping Study commences.
2011 Updated Resource Estimate: Indicated and Inferred Resource Estimate of 125 million tonnes at 1.06 percent nickel and 0.07 percent cobalt.
2014 DSO exploration target announced, auger drilling and Scoping Study commences.
2015 Diamond drilling commences.​