OVERVIEW
Through its 20% interest in UK company Peak Nickel, Ormonde has targeted exposure to an early resource stage nickel sulphide project (including substantial copper and cobalt credits). Peak Nickel’s Rodburn Project in Aberdeenshire is in a tier one jurisdiction with indications of significant size.
EXPLORATION
Ormonde’s investment helped enable an initial drilling programme in 2023 – the first to have been carried out at the project for over 50 years, since a joint venture between Rio Tinto and Consolidated Gold Fields defined a near-surface (historical – non-compliant) resource of 3 million tonnes at 0.52% nickel and 0.27% copper.
The results and outcomes of this initial drilling programme (18 holes for 2,600m) were published on Peak Nickel’s website. In its June 2024 presentation on its website, Peak Nickel describes Rodburn as the “UK’s highest-grade nickel-copper-cobalt project” and provides an updated Mineral Resource Estimate of a higher tonnage and grade than the historical resource. Peak Nickel has stated its intention (subject to funding) to drill a further 6,000 metres on the prospect in 2024.
Ormonde’s technical team believes the historical resource has good potential for enlargement.
PROJECT INFO
Ormonde interest: 20%
Project(s): Rodburn Project, Aberdeenshire, UK
Metal(s): Battery Metals
Website: www.peaknickel.co.uk