Estrella Resources Limited announced an upgrade to the 5A Mineral Resource Estimate (MRE) at the Company's Spargoville Nickel Project, located approximately 20km Southwest of Kambalda, Western Australia. The update takes into account recent metallurgical drilling below the existing 5A open pit conducted from May to July this year which assisted in defining mineralisation types and depths. The drilling also firmed up massive and matrix sulphide widths, mineralogy and bulk densities which are required to be well understood prior to mining.

Highlights: The majority of the Spargoville 5A Resource now classified as Measured, grading 2.8% Ni. High confidence level in the geology, mineralogy and bulk densities. Deposit remains open at depth.

Optimisation work to commence immediately to inform a Definitive Feasibility Study targeting 16,000t of Massive Sulphide grading 7.8% Ni below the existing pit. Contract negotiations in final stages so the 2k-4k bulk sample can be mined, transported, processed and the nickel sold. Testing has indicated that vast majority of nickel can be successfully extracted.

5A Pre-mining site works have commenced 17 October 2022.