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 Gold E25/268 Upper and Lower Lode
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 Occurrence E25/268
SZKLARY LATERITE NICKEL PROJECT, POLAND
(NMI 80%)
| 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.
