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: