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NICKEL STUDY – Economics positive for reopening Lynn Lake mine

MANITOBA - The preliminary economic assessment of the historic Lynn Lake nickel mine is positive, according to 100%...



MANITOBA – The preliminary economic assessment of the historic Lynn Lake nickel mine is positive, according to 100%-owner INDEPENDENT NICKEL of Sudbury, Ont. The study outlined a plan to mine 10.3 million tonnes grading 0.7% Ni and 0.35% Cu at a rate of 3,000 tonnes/day over a mine life of 9.6 years. Nickel production would be 13.9 million lb, and copper output 7.45 million lb.

The preproduction costs of reopening the mine are pegged at $192 million, including a 15% contingency on the mine capital and a 25% contingency of the mill and tailings capital. Building a new mill is expected to raise metal recoveries above the historical averages, which were 83% for nickel and 90% for copper.

Sherritt Gordon Mines began production at Lynn Lake in 1947. Three mines were operated on the property until 1976. During its life, the mine produced over 20 million tonnes of nickel-copper ore at a grade of 1.02% Ni and 0.54% Cu.

Independent Nickel has posted the Lynn Lake preliminary assessment on the Sedar website (www.Sedar.com). The company also invites visitors to enjoy its newly redesigned website at www.IndependentNickel.com.


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