ONTARIO – URSA MAJOR MINERALS and XSTRATA NICKEL, both of Toronto, have signed a memorandum of agreement for the milling of Ursa’s Shakespeare nickel-copper ore at Xstrata’s Strathcona concentrator near Sudbury. A 50,000-t bulk sample is to be sent for treatment, and if recoveries are as expected, a custom milling contract may be signed. Should Ursa build its own concentrator at the 4,500-t/d mine, its concentrates could be toll smelted by Xstrata.
The Shakespeare deposit has a probable reserve of 11.23 million t grading 0.33% Ni, 0.35% Cu, 0.02% Co, 0.19 g/t Au, 0.33 g/t Pt and 0.37 g/t Pd. The indicated resource includes 1.83 million tonnes at a slightly higher grade, and the inferred material totals 736,000 t at a slightly lower grade than the probable reserve.
The feasibility study completed in January 2006 is available at www.UrsaMajorMinerals.com.