auz - significant resource increase

  1. 6,447 Posts.
    Resource at Area 57 upgraded to 80,000 tonnes grading 3.9% nickel (3,100 tonnes
    contained nickel), a four-fold increase from the original estimate. It includes a
    higher grade massive sulphide resource of 51,000 tonnes grading 5.5% (2,800 t
    contained nickel).
    When added to the existing mine resources the resource upgrade at Area 57 raises
    the total combined Mineral Resource at the Blair mine to 325,500 tonnes grading
    2.9% nickel (9,300 t contained nickel), a 35% increase in contained nickel from the
    previous combined estimate.
    Area 57 is being fast tracked as the first stage of underground mining at Blair with
    the aim, subject to the completion of the ongoing feasibility study, of commencing
    access development from the existing decline in December 2003 and commencing
    ore production in the fiist quarter of 2004.
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