MANITOBA - Numbers calculated for the scoping study of the Minago project in the Thompson Nickel Belt, show a healthy 23.1% internal rate of return. NUINSCO RESOURCES of Toronto commissioned the study from WARDROP ENGINEERING.
The study indicates that development of a mine and plant at Minago would cost a total of $441 million initially. Over a 16-year life the project would produce 314 million lb of nickel, 15 million lb of copper, 4 million lb of cobalt, as well as platinum, palladium, rhodium, gold and silver. The average life-of-mine operating costs, net of byproduct credits, are estimated to be US$3.09/lb Ni.
The property has measured and indicated resources of 19.1 million tonnes grading 0.516% Ni and inferred resources of 44.1 million tonnes grading 0.528% Ni. Both an open pit and underground development are contemplated. The pit would mine 36 million tonnes of ore over 13 years using a truck-and-shovel fleet. Blasthole stoping with a ramp access is contemplated for the underground mine.
Nuinsco has another nickel property in Manitoba and one in Quebec. Learn more about all three at www.Nuinsco.ca.