#Australia #Perth #Fisher East #Cannon Resources #Kinterra Capital

Cannon Resources' Milestone at Fisher East Nickel Project

Cannon Resources Pty Ltd, based in Western Australia, has announced significant advancements at its flagship Fisher East Nickel Project, marking a notable period of growth in the nickel exploration sector. With a robust update on the project's mineral resource estimate, Cannon has positioned Fisher East as one of Australia’s most promising and strategically vital undeveloped nickel sulphide assets.

Major Resource Expansion

Since acquiring the Fisher East project in 2023, Cannon Resources has reported astounding growth in its mineral resource estimate (MRE). The latest JORC-compliant MRE now shows an impressive 18.0 million tonnes at an average nickel grade of 1.9%, signifying a remarkable 250% increase in tonnage compared to the previous estimate. This translates into a significant rise in contained nickel from 134.1 thousand tonnes to 338.5 thousand tonnes, bolstering the project's economic credibility and showcasing its potential resilience across varying nickel price fluctuations.

The growth highlights the viability and anticipated impact of Fisher East within the global critical materials supply chain, which is seeing a surge in demand due to increased industrial usage.

Comprehensive Details of the Mineral Resources

The updated estimates break down into distinct classifications:

• - Transition Indicated: 1.3 million tonnes at 1.5% Ni
• - Transition Inferred: 0.5 million tonnes at 1.4% Ni
• - Fresh Indicated: 7.9 million tonnes at 1.9% Ni
• - Fresh Inferred: 8.2 million tonnes at 1.9% Ni

Altogether, these figures demonstrate the project’s potential for high-grade extraction and operational efficiency, catering to market demands for high-quality nickel.

High-Grade Discoveries

Additionally, recent exploration efforts have led to promising findings at the Musket deposit, where a new drill-hole, MFED239, intersected an estimated four meters of massive and disseminated sulphide mineralization with a notable nickel grade of approximately 4.0%. This discovery, occurring at a depth of 320 meters, indicates the potential for continued expansion of the resource base at Fisher East.

The downhole electromagnetic (DHEM) survey of this drill-hole revealed a strong off-hole conductor, which bodes well for ongoing exploration efforts and speaks volumes about the potential depth extension of the Musket mineral system. These developments underline the scalability and longevity of the resource, creating a value-driven environment for investors.

Strategic Development Outlook

Cannon Resources is not only focused on expanding its resource base but is also actively pursuing partnerships for offtake and financing, which are crucial for the project's next development stages.

Cheryl Brandon, Co-Managing Partner at Kinterra, expressed enthusiasm, stating, “Our vision is to build a modern, resilient, nickel supply chain anchored in Tier-1 jurisdictions,” underscoring the project’s alignment with evolving market demands.

Conclusion

As Fisher East continues to evolve with technical progress and robust geological support, Cannon Resources remains committed to delivering further updates on assays and milestones achieved in conjunction with ongoing exploration initiatives. The emphasis on developing a high-grade, commercially viable nickel project places Fisher East within a strategic niche in a market increasingly demanding accessible and reliable sources of critical materials.

For additional information, visit Cannon Resources' official site.