ONTARIO - XSTRATA NICKEL of Toronto is planning to spend $18 million by March 2007 for the first phase of development at its Fraser Morgan project near Sudbury. The money will be spent on the completion of a prefeasibility study, definition drilling, equipment purchases, and shaft improvements on the 3900-foot level. Additional development phases will be subject to approval in the second and third quarters of next year.
Production from Fraser Morgan could begin in early 2009. The mine will contribute an estimated 7,200 t of refined nickel for each year of its seven-year life.
The Fraser Morgan orebody was discovered in 1995, 2.0 km east of the Fraser nickel-copper mine. It will be accessed from the Fraser mine shaft. Measured and indicated resources are 4.9 million tonnes at 1.80% Ni and 0.65% Cu. The deposit also contains 2.4 million t of inferred resources at 1.80% Ni and 0.50% Cu.
A visit to www.XstrataNickel.ca pulls up the same page as www.Xstrata.com. Archived Falconbridge websites are accessible from either address.