Tartisan releases PEA for nickel project in Kenora district
The preliminary economic assessment (PEA) for the Kenbridge nickel project, in the Kenora district of Ontario, provides compelling evidence to progress towards feasibility and to move the project into production, CSE-listed Tartisan Nickel said this week.
The PEA is based on a nine-year, 1 500-t/d underground mining and processing operation, using an existing shaft.
The measured and indicated mineral resources represent 3.5-million tonnes at 0.7% nickel, 0.35% copper and 0.001% cobalt. Inferred resources represent 1.01-million tonnes at 1.21% nickel, 0.56% copper and 0.01% cobalt.
“We are extremely pleased with the results of the PEA which is focused solely on the current underground mineral resource,” said president and CEO Mark Appleby.
He noted that there remained excellent potential to increase and upgrade the quality of the near-surface mineralisation at Kenbridge, thereby adding additional years of production or providing the basis for an increase in yearly throughput.
“By adjusting the mining plan to be an underground operation it allows Tartisan to utilise the existing shaft infrastructure, thereby accessing higher grades of mineralisation early in the proposed mine life,” said Appleby.
The Kenbridge mine will produce 52.6-million pounds of nickel, 30.7-million pounds of copper for a nickel-equivalent of 65.3-million pounds. On average, the nickel-equivalent production will be 7.3-million pounds a year.
The after-tax net present value, using a 5% discount, is C$109-million and the internal rate of return is 20%, with a 3.4-year payback.
Tartisan has started the necessary baseline studies, which are essential and necessary in project permitting, and is upgrading the access road to site, with completion anticipated in September 2022.
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