NORTHERN MANITOBA The updated mineral resource estimate at the Mel nickel deposit is 3.03 million tons (measured and indicated) at a grade of 0.77% Ni. NUINSCO RESOURCES of Toronto can earn a 100% interest in the Mel property, which includes both the Mel lease and Mel claims, by spending a total of $6.0 million by Feb. 28, 2006. INCO LTD. has the right to earn back a 51% interest in the project. Nuinsco spent $856,000 on the winter 2004 work program at the Mel Deposit, and has spent a total of $3.43 million on the project.
The mineralization at the Mel deposit lies between 46 and 183 metres, and could be mined using open pit methods. It is only 40 km by road from Inco’s Thompson nickel mines and smelter.
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