MANITOBA – Vancouver’s Crowflight Minerals plans to resume mining at its Bucko Lake nickel mine in April 2011. During the year, approximately 220,000 tonnes of ore will be recovered, yielding 5 million lb of payable nickel. The company says it will generate a $20-million cash flow from the mine near Wabowden this year if the nickel price averages $12 per pound.
Capital expenditures in 2011 at Bucko Lake are budgeted at $15 million, of which $6 million is for the acquisition of mining equipment, and the remaining $9 million for mine development, upgrading the backfill plant, and expanding the tailing facility . Crowflight has also set aside $3 million for exploration expenditures this year, including 12,000 meters of diamond drilling program at the Thompson Nickel Belt properties with intention to upgrade the mineral resources and assess the economic potential of the M11A zone. Mine operation at Bucko Lake was temporally suspended in October 2010 in order to facilitate the introduction of its own underground mining equipment and team and to make readjustments to address certain operational issues.
More information is available at www.Crowflight.com.