Impact: Positive
Aston reported a JORC compliant, maiden mineral resource estimate (MRE) for the Boomerang Ni-Co deposit part of its 100%-owned Edleston project south of Timmins, Ontario. We view this near-surface, ~6.9B lb NiEq MRE positively as it marks a significant milestone for the company, notably demonstrating that Boomerang is already 80% of the size of the Crawford deposit and 77% of the size of the Dumont deposit, at a similar cut-off grade. The company has brought Boomerang forward quite rapidly, from initial concept to a sizeable resource in under 18 months; a testament to management’s commitment to the project. With plenty of look-a-like targets still to be tested on the property, we believe there is plenty of potential to grow both the Au and NiEq resource base further.
