Sunrise is one of the world’s largest nickel-cobalt resources. Positioned to supply the raw materials needed for the production of battery cathode used in electric vehicle batteries, as well as high-performance alloys used in civilian and defence applications, Sunrise is designed to be a large, low-cost supplier of strategic metals to western markets.
The Sunrise Project represents a strategic development opportunity, with over 900,000 tonnes of nickel, and 170,000 tonnes of cobalt, in the mineral resource. This makes Sunrise the largest cobalt deposit outside the Democratic Republic of Congo.
The first phase of the power systems studies have been completed as part of the electrical transmission line connection agreement with the NSW network operator, Essential Energy.
Completion of plans and the designs of civil and overhead services for the transport of the Company’s autoclaves from Port Pirie in South Australia to the Project site.
Commercial discussions with landowners, Aboriginal Land Councils, local councils and the NSW State Government for land access agreements to support key infrastructure, including water and power.
Ongoing work including monitoring and compliance reporting.
A development decision for the Sunrise Project awaits improved conditions for nickel and cobalt markets. Pre-development activities ensure Sunrise stands ready to capitalise as demand for battery materials and specialty alloys grows, and as customers seek more diversified supply chains for their raw materials.
The Mineral Resource Estimate (MRE) at a 0.35% Nickel Equivalent cut-off grade, is 180Mt at 0.53% Ni (for 940,000 tonnes of contained nickel) and 0.10% Co (for 170,000 tonnes of contained cobalt). Of the total MRE, 89% is in the Measured and Indicated categories, as summarised in Table 1 below
Three-Dimensional Image of Sunrise Process Plant Facilities
| Classification Category | Quantity (Mt) | Nickel Grade (%) | Cobalt Grade (%) | Scandium (ppm) | Platinum (g/t) | Nickel Metal (kt) | Cobalt Metal (kt) | Scandium Metal (kt) | Scandium Oxide (kt) | Platinum (koz) |
|---|---|---|---|---|---|---|---|---|---|---|
| Measured | 69 | 0.65 | 0.11 | 61 | 0.23 | 450 | 73 | 4.2 | 6.4 | 500 |
| Indicated | 89 | 0.49 | 0.09 | 79 | 0.19 | 440 | 76 | 7 | 11 | 540 |
| Measured and Indicated | 160 | 0.56 | 0.09 | 71 | 0.21 | 890 | 150 | 11 | 17 | 1,040,000 |
| Inferred | 17 | 0.26 | 0.10 | 289 | 0.15 | 45 | 18 | 5 | 7.7 | 84 |
| Total | 180 | 0.53 | 0.10 | 92 | 0.20 | 940 | 170 | 16 | 25 | 1,120,000 |
*Refer to the Company’s ASX Release of 28 September 2020 for full details of the MRE, the Ore Reserve estimate, and the JORC Table.
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