$30M exploration program targets Sudbury basin.FNX Mining FNX Mining Company Inc. TSX: FNX is a Toronto, Ontario based company that produces and explores for nickel, copper, platinum, palladium, gold and cobalt in the Sudbury Basin, Ontario, Canada. Company Inc. and Dynatec Corp. are undertaking a massive $30-million advanced underground exploration program in the Sudbury basin The Sudbury Basin, also known as Sudbury Structure, is the second largest known impact crater or astrobleme on Earth, and a major geologic structure in Ontario, Canada. The basin is located on the Canadian Shield in the city of Greater Sudbury, Ontario. . In a May 19 news release, the companies stated they will initiate an immediate exploration program and feasibility study The analysis of a problem to determine if it can be solved effectively. The operational (will it work?), economical (costs and benefits) and technical (can it be built?) aspects are part of the study. Results of the study determine whether the solution should be implemented. for their joint-venture Norman 2000 and Norman North deposits upon receipt of all required permits. The bulk of the money--about $25 million--will be invested in the Norman 2000 program and should take about 24 months to complete. The companies have reported high-grade copper-platinum-palladium-nickel mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. in their drilling results. The 1,000-acre property is 32 kilometres northeast of Sudbury in Norman Township. The work will involve sinking a vertical shaft to the 2,450-level, as well as some crosscutting cross·cut·ting n. A technique used especially in filmmaking in which shots of two or more separate, usually concurrent scenes are interwoven. Also called intercutting. , ramping and drifting. FNX says the work will be followed by more underground drilling, and bulk sampling to augment their drill results and provide more data for a resource estimate. Once the underground program is complete, the Sudbury Joint Venture will conduct a feasibility study "A Feasibility Study" is an episode of the original The Outer Limits television show. It first aired on 13 April, 1964, during the first season. It was remade in 1997 as part of the revived The Outer Limits series with a minor title change. and determine the viability of placing the Norman 2000 deposit into production. An access road is being prepared at the proposed shaft site. The companies are also earmarking  It has been suggested that some sections of this article be split into a new article entitled Earmark (USA). $5 million towards testing the
near-surface Norman North deposit via a decline ramp. This 12-month
program could lead to a production decision by the middle of next year,
says FNX.
The Toronto-based junior optioned five previously mined Inco properties and has spent $40 million in exploration over the past two years. Together with Dynatec, they struck a joint-venture deal with Inco to access all the properties for exploration and possible production. The companies' McCreedy West property went into commercial production last November producing 550 tonnes a day with a resource estimated at 2.5 million tonnes. The Levack Mine and McCreedy PM deposit are scheduled to begin production at the beginning of 2005 and are expected to deliver between 1,000 and 1,500 tonnes per day to Inco's Sudbury smelter. |
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