NORTHERN ONTARIO – URSA MAJOR MINERALS and NORTH AMERICAN PALLADIUM have a positive feasibility study in hand for their Shakespeare nickel-copper-PGM project 70 km west of Sudbury. The report was prepared by MICON INTERNATIONAL, that considered an open pit mine and 4,500-tonnes/day concentrator. The initial capital cost is estimated at $118.5 million.
The feasibility study defines a diluted probable reserve of 11.27 million tonnes grading 0.33% Ni, 0.35% Cu, 0.02% Co, 0.33 g/t Pt, 0.37 g/t Pd and 0.19 g/t Au.
The partners have hired GOLDER ASSOCIATES to proceed with permitting the project. Exploration on the property continues. (See also www.UrsaMajorMinerals.com.)