According to Probe, the breadth of the discovery indicates the potential for a large mineralized system.

The discovery was made on surface within the Beyer Zone, where the company previously reported a surface sample that assayed 14.15 g/t gold and 9.40 g/t silver.

The Eagle’s Nest project has been billed as the largest high-grade nickel discovery in Canada since Voisey’s Bay in Labrador.

Since restarting the copper-gold mine in late 2016, the company has transformed Kainantu into a rapidly expanding producer.

The ban would be part of a ninth EU sanctions package that officials are planning to discuss with member states in the coming days.

Glencore shares fell as much as 3.5% on Tuesday after 2023 production guidance across all the commodities missed consensus estimates.

The Panguna mine was operated by BCL, majority-owned by Rio Tinto, for 17 years from 1972 until 1989, when operations were suspended due to an uprising.

Activity has recently increased at Glencore’s El Pachon copper deposit.