Dear Shareholders
It is my pleasure to bring you the latest updates from the Widgie Nickel team, where we have made great progress across our tenure in recent weeks.
We are fast approaching the completion of the Mt Edwards Nickel Project Scoping Study, and we are looking forward to demonstrating the potential for this project to develop a standalone concentrator in Western Australia.
The current price environment is challenging for nickel, however the long term forecast market imbalance remains. Combined with the recent action by the Australian Government to add the commodity to the critical minerals list and provide a financing facility, provides support to our ambitions to develop vertically integrated nickel in WA.
Through December and January, we updated the MREs for four nickel deposits - Armstrong, Gillett, Widgie 3 and Widgie Townsite, taking our overall Mt Edwards nickel endowment to 190,300t of contained nickel. We are extremely proud of the work our team has undertaken to derisk the Scoping Study and increase the confidence in those resources as we approach this milestone for Widgie Nickel.
Widgie holds a unique occurrence of 12 deposits on 15km of prospective strike
Widgie ramped up its lithium exploration in early 2024 with a discovery focus given the extremely fertile lithium corridor upon which our tenure is central to – including established lithium resources and mines nearby at Mt Marion, Bald Hill and Pioneer Dome.
The Widgie team has been working tirelessly on this expanded exploration program, which is re-evaluating the whole of Widgie’s tenure for lithium. We were delighted to report two high grade discoveries during February as part of this field program.
Widgie’s Farson Discovery saw the return of rock chip samples up to 2.52% Li2O with lithium bearing pegmatites hosted within sediments previously not thought to be prospective. This discovery is located just 300m south of our neighbour Kali Metals (ASX:KM1) recently identified Widgiemooltha Lithium Project.
Hot on its heels came Widgie’s new Gemini Lithium Prospect, with further high grade rock chip assays of up to 1.87% Li2O. Importantly, this new prospect extends the lithium trend to 1.2km via the Atomic 3 Prospect all the way to Voyager to the south.
We are really pleased with how our boots on the ground geology is paying dividends, and with plenty of follow up exploration planned, we are keen to unlock the lithium potential of our tenure.
Widgie’s lithium Faraday-Trainline Lithium Deposit and surrounding prospects.
Finally, I was pleased to spend some time meeting with shareholders and investors at the RIU Explorers Conference in Fremantle, hosted by Vertical Events, where Widgie was a Tier 1 sponsor. The Widgie booth was very busy and I had a productive day meeting with shareholders, brokers and industry participants. You can view the interactive presentation on our website here.
I look forward to keeping you updated with our coming news flow. If you have any questions, my contact details are below. I would also encourage you to follow the Widgie Nickel social channels LinkedIn; X (Twitter); and our mailing list here.
Steve Norregaard
Managing Director, Widgie Nickel
steve@widgienickel.com.au
0472 621 529
