Vancouver, Canada — The Metals Company (formerly DeepGreen Metals), today announced an upward revision to its 43-101 Mineral Resource, which is now estimated as 4 Mt Measured, 341 Mt Indicated and 11 Mt Inferred Mineral Resources in the NORI Area D block of the exploration contract area held by its fully owned subsidiary Nauru Ocean Resources Inc (NORI) in the Clarion Clipperton Zone (CCZ) of the Pacific Ocean. In addition to a 5.4% increase in abundance of polymetallic nodules, the latest resource estimate shows higher grades of nickel (6.1% higher), cobalt (5.4% higher) and manganese (2.2% higher) than were reported in the company’s 2018 Resource Estimate.

NORI 2020 Mineral Resource estimate for NORI Area D at 4 kg/m² abundance cut-off
NORIAreaCategoryTonnes (Mt (wet))Abundance (wet kg/m2)Nickel (%)Copper (%)Cobalt (%)Manganese (%)Silica (%)
DInferred1115.61.381.140.1231.05.50
DIndicated34117.11.401.140.1431.25.46
DMeasured418.61.421.160.1332.25.13

If viewing on mobile, scroll to the right within the table above to see all the data.

Comparison of the area covered by Inferred, Indicated and Measured Mineral Resource for the 2020 estimate and the same area in the 2018 model, shows the mineral resource tonnage has increased by 10% (from 10 to 11 Mt) in the Inferred area and 7% (from 320 to 341 Mt) in the Indicated area. The positive conversion rates resulted from infilling the sampling grid with high-quality box core sample data rather than extending the area sampled, and are exceptionally high compared to the typical outcomes from infill sampling of terrestrial mineral deposits.

In accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”), a Technical Report for the NORI Area D Clarion Clipperton Zone Mineral Resource Estimate, dated 25 January 2021 (the “Technical Report”) will be filed on SEDAR and available here.

The Technical Report was prepared under supervision of Ian Lipton who is a qualified person under National Instrument 43-101.  Ian has reviewed and approved this release.

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