Jervois Global Limited announced an A$0.5 million funding under the NSW Government’s Critical Minerals and High-Tech Metals Activation Fund.
In a statement, Jervois said the funding would be used to progress testwork necessary to support a BFS for its 100 per cent-owned Nico Young nickel-cobalt project.
Jervois will receive funding to conduct more metallurgical testing and environmental and water studies that will feed into a BFS. It will also support the environmental and infrastructure permits required to move the project forwards. These studies are essential for improving process definition, progressing water access management and critical environmental impact studies (EIS), defining the product path-to-market, de-risking the project, and assisting with project funding.
The Prefeasibility Study determined the technical and financial viability of an open-cut mine operation, heap leaching nickel and cobalt laterite ore to produce either an intermediate MHP or refining through to battery-grade nickel sulphate and cobalt in refined sulphide, will be built upon if these studies are successful.
As previously disclosed, Jervois’ Board has authorised a drilling campaign at Nico Young, which is scheduled to begin in early 2023. The Ardnaree deposit’s drilling campaign is underway, with an initial focus on converting Inferred resources to Indicated resources.
According to Jervois, heap leaching is the most appealing development strategy for Eastern Australia’s low-grade nickel-cobalt mineralisation. Heap leaching nickel laterites in dry climates is a reasonable, lower capital, and lower technical and environmental risk development method compared to high-pressure acid leach (HPAL) facilities, which have a high capital and heightened construction and operating risk.
Jervois will now enter a Funding Deed with the NSW Government, which will include mutually agreed-upon performance objectives against which the grant will be released; Jervois will co-fund as part of its preparation for a final BFS.
The Critical Minerals and High-Tech Activation Fund aims to help regional NSW become a global leader in these industries.
