Ore reserve exceeds Western Areas’ expectations
Western Areas NL (WSA) announced that the ore reserve for the first stage of the planned underground mine at Spotted Quoll has exceeded the company’s expectations. The company said a Probable Ore Reserve of 1,725,000 tonnes at an average grade of 4.1% nickel containing approximately 70,200 tonnes nickel has been estimated from below the Tim King Pit to 525m vertical depth.
Western Areas is very encouraged with the result which should underpin a long mine life of high-grade production from this project,” the company said.
Western Areas said total current Probable Ore Reserves at Spotted Quoll including the Tim King Pit comprise 2,111,500 tonnes at an average grade of 4.3% nickel for 90,100 tonnes nickel.
The company added that further drilling should convert additional Mineral Resources into Ore Reserves at Spotted Quoll.
“First ore production from the Tim King Pit, one of the highest grade nickel mines in the world, is on track to commence in April 2010,” Western Areas said.
The company said current open pit and underground Ore Reserves at Spotted Quoll should support a 10-year mine life.
“Excellent potential exists to extend the mine life and target production rate,” Western Areas said.
As at 1041 AEDT, Western Areas were up 9c to $5.01.
Leave a Reply