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Apr 24, 2024 1:59 PM EST
NCP.CA 0.02 +0.00
April 24, 2024
NCPCF 0.01 +0.00
Delayed by 20 minutes

Resource Estimate

Nickel Shäw Project 

Mineral Resources – Effective Date of April 3, 2023

Metal Grades
Class Ktonnes Ni % Cu % Co % Pd g/t Pt g/t Au g/t Mg % S %
Measured 122,363 0.25 0.15 0.014 0.23 0.24 0.05 16.03 0.78
Indicated 314,332 0.26 0.13 0.014 0.24 0.22 0.04 17.26 0.64
Total M+I 436,695 0.26 0.13 0.014 0.23 0.22 0.04 16.92 0.68
Inferred 114,016 0.27 0.13 0.015 0.25 0.20 0.04 17.46 0.69
Contained Metals
Class Ktonnes Ni
M Lbs
Cu
M Lbs
Co
M Lbs
Pd
k Ozs
Pt
k Ozs
Au
k Ozs
Measured 122,363 679 411 38 905 944 184
Indicated 314,332 1,792 871 99 2,385 2,197 361
Total M+I 436,695 2,471 1,281 137 3,290 3,141 128
Inferred 114,016 668 339 37 916 733 128

 

Notes

Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability
Summation errors may occur due to rounding.
Mineral Resources amenable to open pit extraction are reported within an optimized containing shell.
Average grade calculations on this table are impacted by rounding
Tonnages are reported in units of 1,000 metric tonnes (Ktonnes)
Contained Base Metal reported in units of 1,000,000 lbs, M Lbs
Contained Precious Metal reported in units of 1,000 troy ounces, K Ozs

Metal Prices for Resource Determination in US$

Nickel: $12.10/lb; Copper: $4.45/lb; Cobalt: $25.30/lb; Palladium: $2,415/troy oz; Platinum: $1,150/troy oz;
Gold: $2,015/troy oz.
NSR cut-off grades range from $17.30 to $17.61 Canadian dollars depending on Bulk Con and Split Con
Mining costs, vary by bench, separately for ore and waste.
Base waste mining cost @1330m = C$2.26/t, 10 m bench incremental cost above = C$0.004/t, 10 m bench incremental cost below = C$0.02/t
Base ore mining cost @1330m = C$1.99/t, 10 m bench incremental cost above = C$0.019/t, 10 m bench incremental cost below = C$0.015/t
Process and G&A costs: Bulk con – C$17.30/t; Split con = C$17.61/t

Calculated process recoveries by concentrate type:

Ni

Cu

Co

Pd

Pt

Au

Bulk con:

Eq1

Eq2

57.0%

54.0%

47.8%

74.4%

Cu con:

Eq3

Eq4

3.36%

3.19%

0.91%

23.58%

Ni con:

Eq5

Eq6

53.64%

50.81%

46.89%

50.82%

where:
Eq1 = Ni recovery to Bulk Con = MIN(23.21*LN(X)+30.362,88) Where X = (%S-%Cu)/%Ni Capped at 12.0%
Eq2 = Cu recovery to Bulk Con = ((Cu-0.06)/Cu)) *100, Constant tail at 0.06% Cu
Eq3 = Ni recovery to Cu Con=Ni recovery to achieve 25.6% Cu and 1.1% Ni grades in Cu Con
Eq4 = Cu recovery to Cu Con = Cu recovery to Bulk Con * 0.623
Eq5 = Ni recovery to Bulk Con – Ni recovery to Cu Con
Eq6 = Cu recovery to Bulk Con – Cu recovery to Cu Con

The detailed resource report can be found on SEDAR or downloaded here: