It is very significant to note the 4.3 million tonnes inferred soon to be moved to indicated in a significant portion. I love the change in the GRADES to the inferred. What a substantial boost to the deposit value.
Eagle's Nest Estimate History - March 2010
| |
| |
| At a nickel cutoff grade of 0% |
| Measured |
Tonnes (million)Ni (%)Cu (%) Pt (g/t)Pd (g/t)
| 6.9 |
2.04 |
0.95 |
1.3 |
3.4 |
| Inferred |
Tonnes (million)Ni (%)Cu (%) Pt (g/t)Pd (g/t)
| 4.3 |
1.42 |
0.87 |
0.8 |
3.4 |
AS per Dundee:
To increase the grade of the inferred resource: All holes testing the previously defined inferred resource area have intersected higher grade nickel, copper, platinum and palladium than the average grades of the latest inferred resource estimate. Recently reported infill results have averaged 2.48% Ni, 1.32% Cu, 1.23 gpt Pt and 3.77 gpt Pd versus an inferred resource grading 1.42% Ni, 0.87% Cu, 0.8 gpt Pt and 3.4 gpt Pd.
To upgrade the inferred resource to indicated to support future economic analysis: A significant portion of the former inferred resource is expected to convert to indicated resource.
