Bahia Nickel is pleased to announce that the company has received the environmental permit to advance with the exploration program for the Mangueiros nickel sulphide project located in Bahia. The permit was granted by the Municipal Secretary of Agriculture, Environment and Fisheries (Secretaria de Agricultura, Meio Ambiente e Pesca) of the municipality of Pilão Arcado on April 8th, 2022.
Following a public auction process by the state owned Compania Bahiana do Pesquisa Mineracao (CBPM), Bahia Nickel was awarded the right to conduct further exploration and evaluation of the Mangueiros project for three years. Following this period, Bahia Nickel will be able to sign a Mineral Leasing Agreement for 20 years, with the option of extending it for an additional 10 years, allowing for the development and exploitation of the mineral deposit.
The newly granted environmental permit allows Bahia Nickel to start an initial drilling program of thirty holes for a total of 6,230 meters, to define resource potential and test the lateral extensions of the mineralization. The company plans to start the drilling by mid-April, establishing a drilling team in Campo Alegre.
Located in the northern part of the mining-friendly state of Bahia, Mangueiros is a large nickel-copper-cobalt sulphide mineralized system defined by over twenty-two wide spaced historic drill holes, most of which intersected mineralization over significant down hole lengths of up to 240m. CBPM historically performed 3,051m of drilling into the main target, confirming the existence of continuous mineralization over a 2,500m x 500m zone, hosted within an outcropping ultramafic body with approximate dimensions of 3,000m x 1,000m.
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(announcement released 11 April 2022)