QUEBEC — Canadian Royalties of Montreal keeps outlining more mineralization at its Nunavik nickel project in northern Quebec. Contained metal in the Allammaq and Puimajuq deposits may reach 93.6 million lb of nickel and 119.0 million lb of copper.
The Allammaq deposit is a potential open pit producer. It contains measured and indicated resources of 4.3 million tonnes that average 0.90% Ni, 1.12% Cu and 0.04%. The inferred portion is estimated to be 1.6 million tonnes at 0.47%Ni, 0.53% Cu and 0.03% Co.
The Puimajuq deposit has indicated resources of 209,000 tonnes at 1.64% Ni, 2.73% Cu and 0.06% Co plus inferred resources of 12,000 tonnes at 2.31% Ni, 3.23% Cu and 0.09% Co. These resources lie near surface and are recoverable using open pit methods.
These recent results the total resource numbers to 21.9 million tonnes grading 0.93% Ni, 1.15% Cu and 0.04% Co in the measured and indicated categories. There is also an inferred resource of 5.2 million tonnes at 0.72% Ni, 0.93% Cu and 0.04% Co. All deposits at the project have gold, platinum and palladium values. Some of the material is recoverable by open pit mining, and other deposits could become underground mines.
Canadian Royalties is urging its shareholders to reject the recent takeover offer from Jilin Jien Nickel and Goldbrook Ventures. Details of this and the Nunavik project are available at www.CanadianRoyalties.com.