NICO is an Iron Oxide Copper Gold (“IOCG”) class deposit, also commonly referred to as
Olympic Dam-type after the dominant “Super Giant” deposit in South Australia that defines this
class. Ore is hosted in three, 40-50 degree dipping stratabound lenses of brecciated ironstone
up to 1.3 km in length, 550 metres in width and with individual lenses up to 70 metres in true
thickness. The recoverable metals are associated with the approximate 5% sulphide fraction
consisting primarily of cobaltian arsenopyrite, cobaltite, bismuthinite, chalcopyrite, pyrite and
pyrrhotite, as well as native gold and native bismuth.
The NICO deposit contains open pit and underground Proven and Probable Minerals Reserves
totaling 33 million tonnes containing 1.1 million ounces of gold, 82 million pounds of cobalt, 102
million pounds of bismuth, and 27 million pounds of copper. At the planned mill throughput rate
of 4,650 tonnes of ore per day, the mineral reserves will sustain operations for 20 years.
More than $115 million of work has already been conducted for the NICO project to delineate
and engineer the deposit and reduce risks from the development, including completion of
Front-End Engineering and Design and feasibility studies, underground test mining, and several pilot plant tests to verify the process methods and products the Company plans to produce.
Click here to view the NI 43-101 Technical Report