BASE METAL RESOURCE: Quadra FNX files 43-101 for Victoria deposit

ONTARIO - The category may be only inferred, but the grades at the Victoria deposit are well above those historically found in the Sudbury Basin, according to owner Quadra FNX of Vancouver. The most recent 43-101 report puts the inferred resource at 12.5 million tonnes grading 2.3% Cu, 2.2% Ni and 8.5 g/t TPM (total precious metals).

Victoria is a Frood-style polymetallic deposit in the South Range Breccia Belt. The deposit extends from 915 metres below the surface to a depth of 1,980 metres. The best assays encountered were at the lowest levels, including an approximately 32-metre intersection that graded 5.0% Cu, 3.6% Ni and 61.4 g/t TPM.

Quadra FNX conducted an internal scoping study and set as the current base case a scenario that would see production and ventilation shafts sunk concurrently to support a 2,500 to 4,000 t/d mining operation as well as additional exploration. Zone 4 of the deposit might be developed for semi-bulk methods such as longhole stoping. Capital costs might be in the neighbourhood of US$750 million.

The latest 43-101 report can be read in full at www.QuadraFNX.com.