Tier 1 Projects
EAST KALGOORLIE PROJECT, WESTERN AUSTRALIA
(NMI 90%, Balagundi Gold earning 24%)
Blair North E25/268 Gold:
2010 drilling programmes commenced Monday 8 February at Blair North. Results will be announced soon.
George's Reward, Southern Zone:
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. Initial resource estimate has commenced.
Blair North George's Reward, Southern Zone Gold E25/268
Northern Zone Gold E25/268
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Northern Zone Gold Recent RC Drilling Results
Blair North, Northern Zone Gold:
The Northern Zone is an area of widespread gold indications containing extensive RC and RAB gold intersections open in all directions. Best RC intersections include 55m @ 3.3g/t AU (including 3m @ 33.5g/t Au), 58m @ 1.17g/t Au, and high grade intersections of 2m @ 18.71g/t Au, 2m @ 12.98g/t Au and 9m @ 5.07g/t Au and 2m @ 17.17g/t Au. The Northern Zone is centred 2,400m due north of George's Reward in the Southern Zone. To date, very little bedrock drilling has been carried out between these zones.
Blair North E25/268, Two Discrete Zones of Gold Mineralisation and Nickel Sulphide Target
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.
