Tier 1 Projects
EAST KALGOORLIE PROJECT, WESTERN AUSTRALIA
(NMI 90%, Balagundi Gold earning 24%)
Blair North E25/268 Gold:
George's Reward, Southern Zone:
An initial inferred resource estimate of 375,000 tonnes @ 1.89g/t au for 22,850 ounces gold amenable to open pit mining remains open at depth and along strike. Mineralisation commences 7 metres from surface and there is considerable potential to increase resource with deeper drilling. Outstanding gold intersections open at depth and along strike: 66m @ 2.9g/t Au, 43m @ 3.4t/t Au, 45m @ 0.9g/t Au, 24m @ 1.6g/t Au, 42m @ 2.7g/t Au, 20m @ 1.3g/t Au. Mineralisation confirmed from surface to 200m below surface. Coarse, free gold.
Blair North George's Reward, Southern Zone Gold E25/268
Gold Mineralisation Blair North
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Northern Zone Gold Mineralisation
Blair North, Northern Zone Gold:
February 2010 RAB drilling revealed a broad footprint of bedrock gold indicating new resource potential for Blair North. The Northern Zone is an area of widespread gold indications containing high grade and thick zones of gold mineralisation with a wide, lower grade halo extending to the south. It is centred 2,400m due north of George's Reward in the Southern Zone.
The May/June RC drilling programme confirmed widespread gold mineralisation in the Northern Zone and a 600 metre NE trend of high grade mineralisation was defined. The high grade trend clearly remains open to the northeast and is essentially unconstrained in the other directions (refer announcement to the ASX 14 July 2010).
Future work in the Northern Zone will concentrate on testing for additional high grade zones along existing well defined structures and along structures not yet tested. Ground geophysical surveys are being planned with consideration being given to techniques such as Induces Polarization which can detect zones of disseminated sulphides (mainly pyrite), often directly associated with gold mineralisation.
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. The recent soil sampling programme revealed several areas anomalous in nickel with peak values of 2181ppm abd 1078ppm Ni. Follow-up RAB drilling in October 2009, encountered 22m @ 0.18% Ni, 464ppm Cu. This equates to a bedrock response for magmatic nickel sulphides.
Nickel Sulphide Occurrence E25/268
SZKLARY LATERITE NICKEL PROJECT, POLAND
(NMI 90%)
| 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
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.
