Widgie Nickel Ltd. announced a new Mineral Resource Estimate incorporating PGEs at its Armstrong deposit ("Armstrong"), estimated in accordance with the 2012 JORC Code. Armstrong forms part of the Mt Edwards Project located in a province of historic nickel sulphide mines. The new estimate includes information derived from an additional 11,610m of new drilling in 38 holes, which allowed for a detailed reinterpretation of the geology and mineralisation.

Widgie Nickel Ltd. engaged Snowden Optiro to update the Mineral Resource Estimate (MRE) incorporating drilling recently completed at Armstrong. The updated MRE for the Armstrong deposit totals 645,000 tonnes at 1.9% nickel for 12,200 nickel tonnes is reported in accordance with the 2012 Edition of the `Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' prepared by the Joint Ore Reserves Committee of The Australasian Institute of Mining and Metallurgy, Australian Institute of Geoscientists and Minerals Council of Australia (JORC Code). The updated MRE has been reported using a 1.0% nickel cut-off grade as per the previous Armstrong Mineral Resource.

The Armstrong Nickel Deposit is located on Mining Lease M15/99, 9km north north-west of Widgiemooltha. Access to Armstrong is via the Coolgardie-Norseman Rd, with the turn-off to the mine site 63km from Coolgardie. The Armstrong Mining Lease is central to the Mt Edwards Project, with Widgie holding nickel mineral rights over a significant portion of the nickel prospective Widgiemooltha Dome tenements.

Armstrong is one of 12 separate bodies of nickel sulphide mineralisation located at the Mt Edwards project. The Armstrong deposit occurs on the west dipping, west facing limb of the Moore Anticline. The prospect lies in a depression mostly in-filled by palaeo-drainage sediments, which near surface have been partly cemented with ferricrete and pass laterally into colluvial deposits and soil along the depression margins.

Mineralisation occurs in a basal, high MgO komatiite flow unit commonly 17 to 30 m thick. Thin high MgO flows and associated interflow sediments, including a basal sediment separating mafic and ultramafic volcanics, occur away from the mineralisation. Olivine peridotite komatiites have been altered to a lizardite-antigorite-forsterite assemblage.

The footwall consists of predominantly tholeiite basalts, with some interflow sediments. The ultramafic-mafic stratigraphy has subsequently been intruded at depth by the east dipping margin of an Archaean granite that limits the down-dip and down-plunge extent of the mineralisation. An east-west Proterozoic dyke marks the southern extent of the mineralisation.

The deposit comprises three lenses of disseminated to massive nickel sulphide mineralisation, which have been defined at a 0.5% nickel cut-off, a small, mineralised hanging wall domain within the ultramafic sequence, and two larger nickel sulphide domains located within an embayment along the basal ultramafic-mafic contact. The contact mineralisation strikes northwest, dips at approximately 50-55° to the southwest and plunges north at -35°. The southern contact mineralised domain has been intruded by a Proterozoic dolerite dyke which has removed approximately 20 m strike length of the nickel sulphide mineralisation.

The top of the northern contact mineralized domain is approximately 90 m below surface, plunging to the northeast to a depth of approximately 300 m below surface. The contact mineralised domains exhibited higher nickel grades along the ultramafic-mafic contact, which decrease away from the basal contact to the west. A low/high grade sub-domain was introduced at 1.2% nickel sub-domain using a categorical indicator kriging (CIK) approach, which appropriately differentiated the two sub-domains.

It is noted that spatially elevated and high grade arsenic exists across the stratigraphy at Armstrong, with this not just restricted to the mineralisation. To differentiate the low/high grade arsenic sub-domains, a CIK approach using a 170 ppm arsenic indicator was introduced. Nickel sulphide mineralisation is encountered from approximately 50 m below the surface to a depth of 300 m. The nickel sulphide mineralisation is totally oxidised to approximately 50 m below surface, with the transitional-fresh sulphide boundary approximately 55 to 60 metres below surface.

Previous mining has exploited the near surface oxidised and partially oxidised portion of mineralisation with only minor oxide material remaining to the north of the open pit. Only fresh sulphides are reported for this MRE. The interpreted oxidation, lithology and 0.5% nickel domain was used to flag the desurveyed drillhole assay and density data and used for the initial Exploratory Data Analysis (EDA).

The flagged data was then used to control the creation of 1.0 m composite samples. The 1.0 m composites were then coded as being either outside or inside the 1.2% nickel sub-domains using a categorical indicator kriging (CIK) technique. The October 2022 MRE is supported by 121 diamond holes, 265 reverse circulation (RC) holes and 12 RC with diamond tails holes, for a total of 48,354 m of drilling.

The October 2022 resource update has been updated with an additional 24 RC (6,570 m), 2 diamond (619 m) and 12 RC/diamond (3,947 m) drillholes completed at Armstrong by Widgie Nickel Ltd. since acquiring the project. RC drilling utilised 143 mm face sampling hammer, powered by auxiliary compressor and booster. Diamond holes were drilled using a NQ2 diameter wireline drilling method.

Holes were drilled at a nominal 60º dip towards the east, adjusted to orthogonally intercept the basal ultramafic-mafic contact. A downhole Reflex Sprint-IQTM downhole north-seeking gyro tool was used to survey the drilling. Sampling of the RC drilling was at 1 m sample intervals, with the sample passing through a cyclone mounted cone splitter to provide a 2-3 kg sample and the spoil collected in large plastic bags.

Initial RC samples were submitted as 4 m composite samples, comprising 4 equally sized scooped/speared sub-samples from the large plastic bags, combined into single calico sample bag which was then submitted for assay. If an initial composite sample returned an assay >0.4% Ni, the constituent 1 m calico samples were submitted for assay, and the individual results replacing the composite assay data. Diamond core was sampled using 0.3 to 1.3 m sample lengths, with core halved using an Almonte core saw.

The half core was bagged into calico sample bags and submitted for assay and the unsampled half core retained in the core tray. Submitted RC and diamond samples weighed a nominal 2 to 3 kg, some weighing up to 5 kg.