Fisher East Nickel Project

The Fisher East Nickel Project is located approximately 430km north of Kalgoorlie, 223km north of Leonora and 145km northeast of Leinster in the North-Eastern Goldfields region. The project consists of eleven granted exploration licences covering a total of 330.6km2.

The project contains three nickel sulphide deposits consisting of Camelwood, Cannonball and Musket discovered by Rox Resources over the period 2012 – 2014. These deposits are typical Archean komatiite-associated deposits having affinities with Kambalda-style Type 1 contact ores.

The mineralisation identified to date consists of massive, matrix and disseminated nickel sulphides, with a combined JORC 2012 Mineral Resource estimate of 4.1Mt at 1.86% Ni for 78 kT contained Ni. All three deposits remain open at depth and along strike.

There are also significant nickel exploration targets at multiple prospects on the same basal contact that hosts the Camelwood Group of deposits. There is over 20 km of strike of the contact ore position; – all contained with the Cannon tenure. Significant targets with known anomalous nickel mineralisation include the Cutlass, Sabre and Tomahawk prospects.

Cannon has developed an exploration budget and strategy to extend known mineralisation at the Camelwood Group deposits and to explore and evaluate prospects along the basal contact. The proposed exploration is dominated by drilling, with $2.91 million budgeted for exploration over the 2021 -2023 period.

Mineral Resource estimate Fisher East Nickel Project

DepositCategoryTonnes (Mt)Grade Ni %Contained Metal
CamelwoodIndicated1.72.034.0
Inferred0.31.55.0
Total2.02.039.0
CannonballIndicated0.242.97.0
Inferred0.021.90.3
Total0.262.87.3
MusketIndicated1.81.730.0
Inferred0.11.51.6
Total1.91.731.6
TotalIndicated3.71.971.0
Inferred0.51.57.0
Total4.21.978.0
Refer to Cannon Resources Limited Prospectus dated 26 May 2021 for further information