Class 1 Nickel and Technologies (CSE: NICO; OTCQB: NICLF) announced an updated mineral resource estimate for the Dundonald North nickel sulphide deposit. The D-N deposit is one of four nickel sulphide deposits within the sizeable Alexo-Dundonald nickel sulphide project, covering about 3,093 ha (30.93 km2) and located about 45 km northeast of the mining centre and City of Timmins, Ontario. Over the past two years, the company has focused on a comprehensive effort to refine the project’s mineral resource base, underscoring Class 1 Nickel’s commitment to build a robust portfolio of nickel sulphide resources.
Some highlights from the Dundonald North nickel sulphide deposit: Out-of-pit inferred resources of 2.5 Mt at 0.75% nickel, 0.03% copper, 0.02% cobalt, representing a 31.4% increase in total tonnes with 3.5% increase in contained nickel (42 M lbs nickel), a 74% increase in contained copper (2.6 M lbs copper), and a 40% increase in contained cobalt (1.2 M lbs cobalt), total 1.0% nickel mineral resources within the four A-D nickel deposits, using various % nickel cut-offs: 500 kt at 1.07% nickel indicated and 1.0 Mt at 1.01% nickel inferred.
Total mineral resources within the four A-D nickel deposits using C$52.5/t and C$96.0/t NSR cut-offs: 3.4 Mt at 0.54% nickel indicated and 6.6 Mt at 0.56% nickel inferred. With 100% of the Dundonald North deposit tonnes in the inferred category there is excellent exploration upside to expand and upgrade resources through additional drilling. The Dundonald North and Dundonald South deposits have never been exploited, and company officials believe this represent new exploration and development targets within the Alexo-Dundonald nickel sulphide project.
David Fitch, CEO of Class 1 Nickel, commented: “These results from the mineral resource estimate for Dundonald North deposit are extremely positive in confirming the potential of this deposit, which along with the Dundonald South deposit, give us two new re-interpreted nickel targets for future drilling. In addition to these four deposit areas, there are numerous untested airborne EM-magnetic anomalies and historical nickel sulphide occurrences within the Alexo-Dundonald project that provide us with abundant targets for future drilling programs.”
The company will be launching an exploration program to examine the numerous underexplored areas of the project. This exploration will include the numerous nickel sulphide occurrences that exist outside of the known deposit areas. Much of this exploration will be guided by recently completed airborne geophysics and historical drilling, with new ground geophysics and remote sensing surveys being planned.
More information is posted on www.Class1Nickel.com
