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NICKEL-COPPER EXPLORATION Falconbridge identifies next Raglan mining area

QUEBEC Toronto-based FALCONBRIDGE has identified Zone 5-8 as its next flagship mining area at its Raglan mine on ...


QUEBEC Toronto-based FALCONBRIDGE has identified Zone 5-8 as its next flagship mining area at its Raglan mine on the Ungava peninsula. The zone is located 5.0 km east of the Katinniq mill. At the end of 2004, the zone had proven and probable reserves of 747, 700 tonnes grading 3.01% Ni, 0.81% Cu, 0.06% Co, 0.87g/t Pt and 2.51g/t Pd. Indicated mineral resources total 707,000 tonnes grading 2.60% Ni and 0.55% Cu. There are also an estimated 2.18 million tonnes of inferred resources grading 3.30% Ni and 0.80% Cu.

Drill results from the ongoing 2005 campaign at Zone 5-8 have been excellent, says Falconbridge. Some of the longer intersections include 60.10 metres at 4.06% Ni and 0.93% Cu, 44.65 metres at 3.00% Ni and 0.93% Cu, and 39.50 metres at 2.42% Ni and 0.58% Cu. Four diamond drills continue to test the zone.

Mineralization at Zone 5-8 occurs in 15 lenses which range in depth from surface to 600 metres. A key development from the exploration program has been the discovery of Lens 8H which is now the largest single lens ever discovered on Falconbridge’s Raglan property. Lens 8H has been expanded from approximately 640,000 tonnes grading 2.32% Ni at the end of 2004 to an inferred resource of 2.17 million tonnes grading 2.79% Ni, based on 13 drillholes spaced approximately 50 metres apart. Lens 8H mineralization remains open to the north, east and west.

Further information about the company is available at www.Falconbridge.com.


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