ONTARIO FNX MINING of Toronto has updated NI 43-101 reports indicating that resources at its five nickel-copper-platinum-palladium-gold properties near Sudbury have nearly quadrupled from previous estimates.
Measured and indicated numbers total 38.5 million t at the McCreedy West, Levack, Podolsky (formerly Norman), Kirkwood and Victoria properties. The number includes 33.6 million t grading 0.51% Cu and 0.88% Ni in the Contact zone and 5.2 million t grading 2.48% Cu, 0.28% Ni and 0.13 4.46 g/t PGMs in the Footwall zone. Altogether, the deposits contain 620.0 million lb of copper and 683.0 million lb of nickel.
There are 31.8 million t in the inferred category. Material in the Contact zone grades 0.51% Cu and 0.68% Ni (26.8 million t) and in the Footwall zone 1.14% cu, 0.17% Ni and 1.71 g/t PMs (5.0 million t).
The previous estimate totalling 10.6 million t of measured and indicated resources was released at the end of 2006. FNX credits the current high commodity prices as responsible for much of the increase.
Visit www.FNXMining.com for detailed information about the companys projects in the Sudbury Basin.
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