QUEBEC – Vancouver-based Goldbrook Ventures (25%) and Chinese partner Jilin Jien Nickel (75%) have a $122.4 million budget for 2010 for construction at their Nunavik nickel project on the Ungava Peninsula. Jilin is supplying the money for development, and Goldbrook will repay its share out of cash flows.
Work is underway on a tank farm for fuel storage, accommodations, roadwork, pre-stripping the Expo and Mesamax deposits, mill foundations, structural steel and engineering studies. Several contracts have been awarded, notably that for earthworks to Kiewit-Nuvumiut and for EPCM to SNC Lavalin.
The April 2010 technical report, prepared by P&E Mining Consultants, puts measured resources at 560,000 tonnes averaging 0.93% Ni, 1.10% Cu, 0.04% Co, 0.60 g/t Pt, 2.66 g/t Pd and 0.10 g/t Au. Indicated resources total 21.3 million tonnes at comparable grades and inferred resources are 5.2 million tonnes.
Jien Canada, operator of the project, has applied to the province for a permit to operate a 4,500-t/d mill, substantially larger than the 3,500-t/d plant that is currently permitted. Startup is scheduled for early 2012.
Goldbrook has posted the latest 43-101 report and an extensive gallery of photos from the project on its website at www.GoldbrookVentures.com. The feasibility study is to be updated later this year.