Total contained nickel in resources increased by 14,000 tonnes to 172,000 tonnes of nickel during 2007, at .4% cutoff and .95% nickel grade. which continues the pattern whereby resources of nickel (“Ni”) at Avebury have increased every year since 2005. Resources at the Avebury Nickel Project have increased by 46% since 2005 as exploration has proceeded and as the mine is being developed. This encouraging trend in the company’s nickel resource base has been achieved at a highly credible exploration cost of only 5 cents per pound (A$110 per tonne) of Ni in the ground, and despite the exploration emphasis being on the Avebury mine and near-mine extensions during the development of this, our first nickel mine.
WSA A 25% upgrade in Mineral Resources in the T1 deposit during the quarter has resulted in the total current Mineral Resource at Flying Fox increasing to 1.55 million tonnes at an average grade of 6.2% nickel, containing approximately 95,600 tonnes nickel. This Mineral Resource does not include the T4, T6 or T7 deposits where drilling is ongoing.
perhaps this will give you an idea of higher grade deposits.
cheers
AGM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
