Scandinavian Gold Limited: New Resource Estimate For Keivitsa Nickel-Copper-PGE Property.TORONTO -- Scandinavian Gold Limited (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :SGL SGL See Speculative Grade Liquidity Rating (SGL). ) - - Higher-grade resource to measured and indicated category - Pre-feasibility study nearing completion Scandinavian Gold Limited (to be renamed Scandinavian Minerals Limited) (TSX:SGL) today announced that it has completed a new resource estimate for its 100%-owned Keivitsa, Finland, nickel-copper-PGE property. The new estimate has focused on the open-pit portion of Keivitsa to a depth of 300 metres, where a resource of 70 million tonnes with a higher grade of 0.31% nickel nickel, metallic chemical element; symbol Ni; at. no. 28; at. wt. 58.69; m.p. about 1,453°C;; b.p. about 2,732°C;; sp. gr. 8.902 at 25°C;; valence 0, +1, +2, +3, or +4. and 0.43% copper in the measured and indicated categories has been calculated. The estimate has been prepared by Lower Quartile Quartile A statistical term describing a division of observations into four defined intervals based upon the values of the data and how they compare to the entire set of observations. Notes: Each quartile contains 25% of the total observations. Solutions of South Africa South Africa, Afrikaans Suid-Afrika, officially Republic of South Africa, republic (2005 est. pop. 44,344,000), 471,442 sq mi (1,221,037 sq km), S Africa. , part of the CSA (1) (Canadian Standards Association, Toronto, Ontario, www.csa.ca) A standards-defining organization founded in 1919. It is involved in many industries, including electronics, communications and information technology. Group, in association with St Barbara Consultancy Services ("St Barbara") of London, U.K.
Resources to 300 metres depth, 0.2% nickel cutoff:
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contained metal
million % grams/tonne (tonnes)
tonnes ----------------------------------------------------
Ni Cu Co Au Pd Pt nickel copper
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Measured 56 0.31 0.42 0.01 0.15 0.22 0.34 174,000 235,000
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Indicated 14 0.30 0.47 0.01 0.15 0.19 0.30 42,000 65,000
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Measured
+
Indicated 70 0.31 0.43 0.01 0.15 0.22 0.34 216,000 300,000
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Inferred 16 0.29 0.49 0.01 0.15 0.18 0.24 46,000 78,000
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The new resource estimate was undertaken to determine grade and tonnage TONNAGE, mar. law. The capacity of a ship or vessel. 2. The act of congress of March 2, 1799, s. 64, 1 Story's L. U. S. 630, directs that to ascertain the tonnage of any ship or vessel, the surveyor, &c. for the higher-grade open-pit portion of the Keivitsa orebody, as well as the total resource to a depth of 1,000 metres. The estimate was made using the block kriging method. Peter Walker, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Scandinavian Gold, commented "We are delighted with this new resource estimate, which places a substantial higher grade resource into the measured and indicated categories. In addition, the extension of the total resource to 1,000 metres demonstrates that the Keivitsa deposit represents a major mineralised system." The higher-grade zone is the subject of a pre-feasibility study currently being undertaken by St. Barbara and expected to be complete in March 2006. This study is based on an open pit mining operation producing approximately 3.5 million tonnes of ore per year, with production of smelter-grade nickel and copper concentrates. The eventual pit depth is currently planned to 300 metres. The previous resource estimate, by SRK SRK Shah Rukh Khan (Indian actor) SRK Shoryuken (fighting games) SRK Soave-Redlich-Kwong (thermodynamic model) SRK Syk-Related Tyrosine Kinase Consulting in 2001, used a cutoff grade of 0.1% nickel to a depth of 500 metres. Since that time, Scandinavian Gold has drilled 26 additional holes totalling 4,185 metres. This drilling has enabled higher-grade material to be placed in the measured and indicated categories. In addition, the inclusion of deeper, previously-drilled holes in the resource model has enabled the total resource estimate to be extended to a depth of 1,000 metres.
Resources to 1,000 metres depth:
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contained metal
million % grams/tonne (tonnes)
tonnes -----------------------------------------------------
Ni cutoff
% Ni Cu Co Au Pd Pt nickel copper
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Measured
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0.1 185 0.22 0.29 0.01 0.09 0.13 0.21 408,000 537,000
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0.2 90 0.31 0.42 0.01 0.13 0.19 0.30 279,000 378,000
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Indicated
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0.1 102 0.22 0.30 0.01 0.08 0.11 0.18 225,000 307,000
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0.2 51 0.30 0.44 0.01 0.11 0.16 0.25 152,000 224,000
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Measured and Indicated
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0.1 287 0.22 0.29 0.01 0.09 0.13 0.20 632,000 834,000
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0.2 141 0.30 0.42 0.01 0.12 0.18 0.28 422,000 591,000
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Inferred
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1,197,000
0.1 544 0.22 0.32 0.01 0.07 0.08 0.09 1,741,000
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0.2 291 0.29 0.46 0.01 0.09 0.09 0.1 843,000 1,337,000
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The above resource estimates are effective 25th January, 2006 and have been prepared by Mr. Dexter dexter /dex·ter/ (deks´ter) [L.] right; on the right side. dex·ter adj. Of or located on the right side. Ferreira, BSc (Geology), BEng (Mining), MBA MBA abbr. Master of Business Administration Noun 1. MBA - a master's degree in business Master in Business, Master in Business Administration , Pri.Sci.Nat., of Lower Quarter Solutions, South Africa. Mr. Ferreira is an independent Qualified Person under National Instrument 43-101 of the Canadian Securities Regulators. Mr. John Pedersen John Douglas Pedersen was a prolific arms designer who worked for Remington Arms, and later for the United States Government. Born in Denmark, he lived for a time in Wyoming, where most of his patents list his home. , M.Sc., P.Geo., is a director of Scandinavian Gold Limited, and also a Qualified Person, and has approved this press release. Note that contained metal calculations may not reconcile due to rounding calculations. The Keivitsa project - an overview Keivitsa, situated in northern Finland, is one of the world's major undeveloped sulphide sulphide: see sulfide. nickel deposits and one of the largest mineral discoveries in Finland's history. The Keivitsa deposit is easily accessible by road. Water and hydroelectric power hydroelectric power: see power, electric; water power. hydroelectric power Electricity produced from generators driven by water turbines that convert the energy in falling or fast-flowing water to mechanical energy. are available nearby. In September 2005, the Company announced a major break-through in metallurgy metallurgy (mĕt`əlûr'jē), science and technology of metals and their alloys. Modern metallurgical research is concerned with the preparation of radioactive metals, with obtaining metals economically from low-grade ores, with : mini-pilot tests had confirmed the results of earlier bench testing to demonstrate that, with the application of new flotation flotation or froth flotation Most widely used process for extracting many minerals from their ores. The method separates and concentrates ores by altering their surfaces so that they are either repelled or attracted by water. reagents, smelter-grade concentrates can be successfully produced by conventional flotation methods flotation method n. Any of several procedures for concentrating helminth eggs, when the eggs are difficult to find in direct examination, by use of a liquid of sufficiently high specific gravity. . The current pre-feasibility study therefore envisages the production and sale of separate nickel and copper concentrates to smelters in Finland or abroad. Further details regarding the Keivitsa project can be found in the report entitled en·ti·tle tr.v. en·ti·tled, en·ti·tling, en·ti·tles 1. To give a name or title to. 2. To furnish with a right or claim to something: "Independent Technical Report on the Keivitsa Ni-Cu-Co-PGE Deposit, Finland" prepared by SRK Consulting, as well as in previous press releases of the Company, all available at www.sedar.com. Scandinavian Gold expects to complete a pre-feasibility study in March 2006 based on open pit mining of 3.5 million tonnes of ore per annum Per annum Yearly. . Separate, smelter-grade nickel and copper concentrates would be produced for sale to smelters. Environmental studies for the Keivitsa project are largely complete and it is expected that the applications for the environmental and mining permits will be submitted in March 2006. About Scandinavian Gold Limited Scandinavian Gold (to be renamed Scandinavian Minerals) is a Canadian company exploring for precious and base metals in Scandinavia, with emphasis on Finland. The Company is currently developing one of Finland's largest mineral discoveries, the 100%-owned Keivitsa nickel-copper-PGE project. Scandinavian Gold believes that Finland offers excellent potential for large-scale discoveries in under-explored terrain, combined with a favourable, well-administered mining law, clear security of title and long-established political and economic stability. The Company's 12.9 million common shares trade on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. under the symbol SGL. Scandinavian Gold Limited (TSX:SGL) |
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