SUDBURY, Ontario DYNATEC CORP. and FNX MINING have made an initial mineral resources estimate for the former Levack mine, under investigation by the partners' Sudbury Joint Venture. Measured and indicated resources total 5.06 million tons grading 1.9% Ni and 0.9% Cu. There is an additional inferred resource of 980,000 tons grading 2.0% Ni and 0.9% Cu. The total mineral resource estimate for the Levack-McCreedy West Complex now stands at approximately 7.0 million tons in the measured and indicated categories and a further 1.3 million tons in the inferred category.
The Levack mine on the northwestern rim of the Sudbury Basin was initially operated by Mond Nickel between 1915 and 1929. It was reopened in 1937 by Inco and was in production until it was closed a second time in 1999. The mine produced approximately 64.3 million tons of ore grading, on average, 1.88% Ni, 1.30% Cu, 0.056% Co and 0.049 oz/ton total precious metals. Since closure in 1999, the upper part of the Levack mine has been maintained in a dry condition.
The Levack property, in addition to its dry underground workings in the upper part of the mine, has surface infrastructure including the No.2 headframe, hoist, fresh air raises and buildings. The shaft and underground infrastructure will require rehabilitation prior to being put back into service for exploration or production. The Levack mine is also accessible through the adjoining Sudbury Joint Venture's McCreedy West operating mine along the 1600 level haulage drift (8,000 ft west to the McCreedy West ramp).
The Levack resources are predominantly remnants or extensions of previously-mined areas and will require detailed mining and engineering evaluation studies. Until a feasibility study is completed in 2004 and a production decision has been made, there can be no certainty that the identified mineral resources can be profitably exploited.
More information on the activities of the Sudbury Joint Venture are available at www.dynatec.ca and www.fnxmining.com.