- Tartisan Nickel Corp. (CSE:TN) announced on Tuesday (July 12) it has completed a positive preliminary economic assessment (PEA) for its 100 per cent owned Kenbridge Nickel Project
- The project is located in the Kenora District of Northwestern Ontario
- P&E Mining Consultants Inc prepared the company’s PEA and is focused solely on mining of the mineral resources at the Kenbridge Nickel Project
- The PEA is indicative of a nine-year mine plan based on a 1,500 ton-per-day underground mining and processing operation
- Life of mine revenues from net smelter returns are estimated to be roughly $837 million
- Shares of Tartisan Nickel are unchanged on the day, trading at C$0.28 at 12:15 pm EDT
Tartisan Nickel Corp. (CSE:TN) has completed a positive preliminary economic assessment (PEA) for its Kenbridge Nickel Project.
The project is located in Northwestern Ontario’s Kenora District.
P&E Mining Consultants Inc., based out of Brampton, Ontario, prepared the PEA study independently under Eugene J. Purtich’s supervision.
According to the company, the PEA primarily focuses on mining mineral resources at the Kenbridge Nickel Project underground mine. The PEA indicates a nine-year mine plan based on a 1,500-ton-per-day underground mining and processing operation.
Meanwhile, measured and indicated resources represent over 3.5 million tons at 0.70 per cent nickel, 0.035 per cent copper and 0.01 per cent cobalt. Inferred mineral resources represent 1.01 million tons at 1.21 per cent nickel, 0.56 per cent copper and 0.01 per cent cobalt.
“We are extremely pleased with the results of the PEA which is focused solely on the current underground Mineral Resource. There remains excellent potential to increase and upgrade the quality of the near surface mineralization at Kenbridge thereby adding additional years of production or providing the basis for an increase in annual throughput. By adjusting the mining plan to be an underground operation it allows Tartisan to utilize the existing shaft infrastructure thereby accessing higher grades of mineralization early in the proposed mine life,” Mark Appleby, president and CEO of Tartisan, said in a press release. “The PEA provides compelling evidence to move towards Feasibility and for the Kenbridge Nickel Project to move into production.”
Appleby added that the company has begun necessary baseline studies that are needed for project permitting and is also upgrading the site’s road access, which he said will be done by September.
Additionally, the life of mine revenues from net smelter returns is anticipated at $837 million, while operating costs are projected to be $292 million.
Shares of Tartisan Nickel are unchanged on the day, trading at C$0.28 at 12:15 pm ET.