ONTARIO - Toronto-based FNX MINING now has reserve numbers for the high-grade massive sulphide vein intersected by drifting on the 2450 level of the Podolsky nickel mine on the northeast rim of the Sudbury Basin. (See CMJ Net News, Sept. 15, 2007.)
An initial measured resource of 92,500 tonnes grading 22.69% Cu, 1.43% Ni, 14.05 g/t Pt-Pd-Au (TPM) was established and converted to a probable mineral reserve of 83,400 tonnes grading 18.54% Cu, 1.23% Ni, and 11.66 g/t TPM. This high-grade measured resource is included within a larger measured resource of 363,700 tonnes grading 7.08% Cu, 0.69% Ni, and 5.83 g/t TPM, which has also been converted to a probable mineral reserve of 293,900 tonnes grading 7.94% Cu, 0.67% Ni, and 5.83 g/t TPM.
FNX says other high-grade drill intersections above the reserve block may indicate a new parallel massive sulphide zone, however detailed drilling will be necessary to establish the orientation, extent and potential of the zone.
Pre-production ore has been shipped to custom milling, and the company expects commercial production at a rate of 1,090 t/d to be reached in the first half of 2008.
Diagrams and additional information on the Podolsky project are available at www.FNXMining.com.