IGO to record impairment against nickel assets in strategy shift
IGO has been undertaking a strategic review in an attempt to revaluate its resources.
Proto Resources & Investments Ltd (“Proto”, “the Company”) has acquired rights over a nickelcobalt development project located in Saxony, Germany. The Kiefernberg project area is within the Granitulite Mountains licence that Proto has entered into an option to acquire from Deutsche Rohstoff AG. The licence also contains a brownfield former nickel mine as well as several other known mineralisations.
The Granitulite Mountains licence has already been the subject of extensive drilling, with over 1200 holes having been completed to varying depths. A project to compile all historical geochemical results into a digital database is already underway. This will be followed by the design of a programme of confirmatory drilling to allow sufficient quality assurance/quality control (“QAQC”) to define a JORC-compliant resource using the historical data.
