Northern Mining Limited (ASX:NMI) Szklary Ni Project - Mining Concession Renewal.
This Mining Concession renewal and the potential of the Szkalry Nickel Project is of economic significance to the Company.
NMI believes that the location of its concession areas to the KGHM Polska Miedz S.A. (KGHM) concession, combined with locating a reasonably priced source of sulphuric acid (KGHM a possible source) and heap leaching applied, will provide a strong strategy for the Company to maximise the real value of the Project. Additionally, potential exists to increase the size of the Szklary Inferred Resource through further study of the historic workings and determining their effect.
Developed on the Szklary Ultramafic body, the Project is subdivided into three mineralised zones; NMI's two concessions are granted over the northern, southern and a portion of the middle zone, whilst KGHM - commonly referred to as "Polish Copper" and one of the world's largest copper producers, has a 515,000sqm concession granted over a portion of the middle zone (Figure 1).
The Project is located close to existing infrastructure and has an initial Inferred Resource to JORC reporting standards of 16.8Mt @ 0.6% Ni for 94,000t contained nickel (including 3.2Mt @ 0.9% Ni) (announced to the ASX on the 29 July 2008).
This resource estimate is for only 3.7 kilometres of the six kilometres of strike length of the NMI deposit. A significant portion of the southern concession area has been excised from the resource estimate due to uncertainty regarding historical workings (announced to the ASX on the 29 July 2008).
NMI and experienced industry participants in nickel laterite heap leaching are currently assessing the potential value of combining the NMI and KGHM concessions for future sale or acquisition.
To obtain the maximum commercial value of the Project in the minimum amount of time.
NMI Moving Forward:
NMI believes that its projects contain high quality drill targets that offer the Company positive returns for the future. The Company is currently appraising its exploration portfolio with a view to maximising the potential of its projects in Western Australia, the Northern Territory and Poland. Results of these appraisals will be released soon.
About Northern Mining Limited:
Since admission to the Official List of the ASX on the 12 September 2006, Northern Mining Limited (ASX:NMI) continues to explore its exciting and diverse exploration portfolio comprising gold, nickel and base metals projects in Western Australia (WA), the Northern Territory (NT) and Poland.
During 2011/2012, NMI focussed its exploration efforts on the East Kalgoorlie Project in Western Australia, where the Company has strong indications of three gold mineralised systems within its tenure (Blair North, Kanowna Lights and Snake Hill Prospects). All prospects are ideally located to key infrastructure and gold processing facilities.
At the Camel Prospect in the Northern Territory, manganiferous outcrops occur in two discrete areas some 23 kilometres apart with limited exposure of rocks anomalous in manganese. At both areas, the zones of interest are covered by a shallow cover sequence. Rock chip values of the limited outcrop returned consistently elevated Mn results up to 15.7% Mn at Area 1 and up to 45.6% Mn at Area 2. The Prospect covers some ~3,260 hectares, is centred 127 kilometres southwest of Alice Springs and is readily accessed by the sealed Stuart Highway which passes through it. The Prospect is
Copyright 2013 ABN Newswire
Provided by Syndigate.info an Albawaba.com company
|Printer friendly Cite/link Email Feedback|
|Date:||Apr 15, 2013|
|Previous Article:||LEADING U.S. CARDIOVASCULAR RESEARCHER WILL COMPLETE A BUSY WEST COAST PRESENTATION SCHEDULE AS FEATURED SPEAKER AT THE WOMEN ROCK IT(R) WITH HEART...|
|Next Article:||Minotaur Exploration Limited (ASX:MEP) New Copper-Gold Targets at Osborne Project.|