Northern Mining

Tier 1 Projects

EAST KALGOORLIE PROJECT, WESTERN AUSTRALIA
(NMI earning 75%, Cazaly Resources 25%)

Blair North E25/268 Gold:

Gold assays confirm the extension of significant mineralisation at the Southern Zone of E25/268 (BNRC010 locality) with values up to 34.55g/t Au. These results demonstrate a main Lower Lode up to 100m long and up to 25m wide, located up dip from, and including hole BNRC010, together with a thinner Upper Lode up to 80m long. Assays have also confirmed the existence of significant mineralisation at the northern zone (BNRC017 locality), with values up to 39.82g/t Au. An aeromagnetic survey has been completed and a diamond drilling programme is due to commence mid November, to gain a better understanding of the structural and lithological controls for the gold mineralisation.

Southern Zone
Southern Zone Gold E25/268 Upper and Lower Lode

Northern Zone
Northern Zone Gold E25/268

Blair North E25/268 Nickel:

RC drill testing of a massive nickel sulphide target, identified from a downhole TEM survey undertaken in hole BNRC008 earlier in the year, intersected significant nickel sulphides, assaying up to 4.4% Ni, in two of three holes drilled in the programme. Diamond drilling is planned to delineate the extent of this nickel sulphide occurrence, and to gain a better understanding of the stratigraphic and structural setting of the mineralisation.

Nickel Sulphide
Nickel Sulphide Occurrence E25/268

SZKLARY LATERITE NICKEL PROJECT, POLAND
(NMI 80%)

Inferred JORC Resource:
16.8Mt @ 0.6% Ni for 94,000t contained nickel – near surface
Cut Off Grade
(%Ni)
Ore Tonnes
(millions)
Average Grade
(%Ni)
Contained Nickel
(tonnes)
Classification
0.3 16.8 0.6 94,000 Inferred
0.5 8.8 0.7 61,000 Inferred
0.7 3.2 0.9 28,000 Inferred
  • Feasibility study to commence in 2009; Joint development with KGHM
  • Simple production process – shallow deposit and heap leaching
  • Close to infrastructure
  • Historic production: 20,000t Ni
  • JORC resource based on historic and recent mining and exploration data

Recent Heads of Agreement signed with Polish Copper giant, KGHM over NMI’s two concession areas together with KGHM’s 1 concession. Combined concessions cover majority of known extent of the ultramafic body.

KGHM – global top ten copper and silver producer.

KGHM market capitalisation US$10 billion.

KGHM’s Lubin copper mining complex produces >500,000t refined copper and 38Moz silver pr annum.

Polish Government owns 42% of KGHM.

Szklary Nickel  Ore