Proto acquires WA nickel lease

Proto Resources and Investments have acquired Warwick Resources' Waite Kauri North nickel project in the goldfields region north of Kalgoorlie in Western Australia.

Proto Resources and Investments have acquired Warwick Resources’ Waite Kauri North nickel project in the goldfields region north of Kalgoorlie in Western Australia.

The Waite Kauri North lateritic nickel project is on a granted mining lease located immediately to the north of GME Resources’ Waite Kauri lateritic nickel-cobalt project and approximately 20 kilometres from Minara’s Murrin Murrin nickel operations near Leonora.

A JORC compliant inferred mineral resource of 3.9 millions tonnes at 1.04% nickel and 0.04% cobalt has been previously estimated for the project, representing 40,541 tonnes of contained nickel and 1,448 tonnes of contained cobalt.

The transaction is conditional upon the completion of due diligence by Proto within 21 days and the purchase consideration is the issue of 4,000,000 fully paid ordinary Proto share to Warwick Resources.

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