Mineral Resource. The Company is continuing to assess other opportunities within the district to further consolidate its landholdings.
Mineral Resource. The tables 1 and 2 summarise the mineral resource estimates announced today by CTM and the historical mineral estimate undertaken by Vale. Table 1 - Jaguar Mineral Resource Estimate (0.5% Ni cut-off) Classification Ore Type Tonnes Grade Contained Metal Ni % Cu % Co ppm Ni Cu Co Transition 0.3 Mt 1.09 0.09 310 3,500 t 300 t 100 t Indicated Fresh 11.3 Mt 1.29 0.09 392 145,000 t 9,800 t 4,400 t Total Indicated 11.5 Mt 1.29 0.09 390 148,500 t 10,100 t 4,500 t Transition 0.8 Mt 0.99 0.08 287 8,200 t 700 t 200 t Inferred Fresh 35.6 Mt 1.01 0.07 255 360,800 t 24,800 t 9,100 t Total Inferred 36.4 Mt 1.01 0.07 255 369,000 t 25,500 t 9,300 t Total 48.0 Mt 1.08 0.07 288 517,500 t 35,600 t 13,800 t Source: CTM Classification Tonnes Grade Contained Metal Ni % Cu % Co ppm Ni Cu Co Table 2 - Jaguar Mineral Resource Historical Estimate by Vale (0.5% Ni cut-off) Measured 19.0 Mt 0.79 0.06 145 150,000 t 11,400 t 2,700 t Indicated 21.4 Mt 0.77 0.07 123 164,900 t 15,000 t 2,600 t Inferred 17.2 Mt 0.76 0.06 86 130,500 t 10,300 t 1,500 t Total 57.6 Mt 0.77 0.06 119 445,500 t 36,700 t 6,900 t Source: CTM Using the same cut-off grade, the maiden mineral resource shows a significant increase in nickel grade (+39%) while increasing the nickel metal content (+16%). The new mineral resource also shows a doubling of the cobalt metal content and grade. Mineral Resource Benchmarking The chart below focus on undeveloped nickel sulphide projects. The new mineral resource reinforce Jaguar position well within the first quartile of project in terms of nickel grade. The higher grade portion of the mineral resource competes extremely with more complex underground projects. Figure 1 – Jaguar Mineral Resource Comparative Analysis Victoria, KGHM Venus, BHP 3.0 Xxxxxx East, RXL Mt Xxxxxxx, NMT Windarra, POS Jaguar (> 1.0% Ni) Jaguar (> 0.5% Ni)
Mineral Resource. A ‘Mineral Resource’ is defined as a concentration or occurrence of material of economic interest in or on the Earth’s crust in such form, quality and quantity that there are reasonable prospects for eventual economic extraction. The location, quantity, grade, continuity and other geological characteristics of a Mineral Resource are known, estimated or interpreted from specific geological evidence and knowledge. Mineral Resources are subdivided, in order of increasing geological confidence, into Inferred, Indicated and Measured categories (See Figure 7). INFERRED 1 RESOURCE DETERMINATION BASED ON SIMPLE LITHOLOGICAL DESCRIPTIONS Increasing level of geo-scientific knowledge and confidence See Option 1. RESOURCE DETERMINATION BASED ON DETAILED LITHOLOGICAL DESCRIPTIONS See Option 2. RESOURCE DETERMINATION BASED ON DETAILED LITHOLOGICAL DESCRIPTIONS AND BOREHOLE LOGS AND INTERPRETATIONS TO PRODUCE 3d MODELS AND VOLUMETRIC CALCULATIONS See Option 3. INDICATED2
