Duluth Metals Ltd said a new independent NI 43-101 preliminary assessment on its Nokomis Project, a large copper-nickel-PGM deposit in Minnesota, doubled the potential daily production rate to 40,000 tons from a previous 20,000 tons scenario and confirms positive economics for the Nokomis deposit even at today's lower metal prices.
Highlights of the study by Scott Wilson Roscoe Postle Associates, based on the June 2008 Mineral Resource Estimate, were released in November 2008 and the full report has now been filed on SEDAR.
President and chief executive Henry Sandri said "Both the new expanded case at 40,000 tonnes per day of production and the earlier 20,000 tonne per day case demonstrate positive economics at various price cases.”
“This demonstrates that the Nokomis Project has significant flexibility in optimizing the production throughput, relative to the overall size of our published resource to date. We are currently in the pre-feasibility data collection and assessment stage of the project and anticipate enhancing the economics by delineating higher grade feed that can be mined and processed at an early stage of the project."