EAGLE’S NEST Ni-Cu-PGE MINE
Noront’s first project is the Eagle’s Nest Mine, a high-grade nickel-copper-platinum-palladium deposit located in the Ring of Fire region of Northern Ontario. It is expected to produce 3,000 tonnes of ore per day, which will be mined by underground methods and processed to deliver 150,000 to 250,000 tonnes of nickel-bearing concentrate per year. The mine is expected to reach commercial production 3 years after permits are received with an anticipated mine life of 11 years and the potential for 9 additional years.
Eagle’s Nest will be unique in its design, reflecting input from extensive discussions Noront has had with local communities and other stakeholders:
- It will be the first mine of its kind to have all its tailings remain underground in the form of backfill and paste backfill; and,
- 100% of process plant water will be recycled to minimize the discharge of effluents.
The mine currently has over 20 million tonnes of measured, indicated and inferred resources containing high-grade nickel mineralization with significant copper, palladium and platinum content. See Mineral Reserves & Resources Chart.
|Mineral Reserves & Resources|
|Category||Tonnes (000)||Nickel (%)||Copper (%)||Platinum (gpt)||Paladium (gpt)|
|Proven and Probable Reserves||11,131||1.68||0.87||0.89||3.09|
|gpt = grams per tonne
Please see the report titled “NI 43-101 Technical Report Feasibility Study McFaulds Lake Property Eagle’s Nest Project James Bay Lowlands Ontario, Canada,” dated October 19th, 2012 (with an effective date of September 4, 2012) (the “Technical Report”) for details regarding the mineral reserve estimate above (section 15.1) and the mineral resource estimate above (14.2). Sections 14.2 and 15.1 of the Technical Report include a description of the key assumptions, parameters, and methods used to estimate the mineral resources and mineral reserves respectively. A copy of the Technical Report may be accessed under Noront’s company profile on SEDAR at www.sedar.com.
Mineral resources that are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, socio-political, marketing or other relevant issues.