| Project Location | Project Profile (M&I) | Stage |
| Thompson Manitoba | 690Mlbs Nickel, 405koz PGM |
Permitting Pre-Production |
Minago is located in the southern extent of the Thompson Nickel Belt (“TNB”). TNB is the 2nd largest nickel camp in Canada with over 5 billion pounds of past nickel production. Provincial Highway 6 and a high-voltage (230 kV) transmission line are within 1km from proposed Minago open-pit project area. Vale currently mines and produces nickel concentrates in Thompson. The Thompson nickel concentrates are shipped by rail to Vale’s Sudbury smelter for processing to refined nickel for customers such as Telsa.
The Minago Project MRE, effective date March 18th 2024, was prepared by Mercator Geological Services Limited (“Mercator”)
| Type |
Ni % Cut-off |
Category |
Tonnes (M) |
Ni % |
Pd g/t |
Pt g/t |
Ni M lbs |
Pd koz |
Pt koz |
| In-Pit | 0.29 | Measured | 11.53 | 0.74 | 0.21 | 0.09 | 188.1 | 77.9 | 33.4 |
| Indicated | 24.44 | 0.63 | 0.16 | 0.07 | 339.5 | 125.7 | 55 | ||
|
Measured and Indicated |
35.97 | 0.67 | 0.18 | 0.08 | 531.3 | 208.2 | 92.5 | ||
| Inferred | 3.14 | 0.66 | 0.14 | 0.06 | 45.7 | 14.1 | 6.1 | ||
| UG | 0.75 | Measured | 0.39 | 0.97 | 0.28 | 0.12 | 8.3 | 3.5 | 1.5 |
| Indicated | 7.08 | 0.97 | 0.29 | 0.12 | 151.4 | 66.0 | 27.3 | ||
|
Measured and Indicated |
7.47 | 0.97 | 0.29 | 0.12 | 159.7 | 69.7 | 28.8 | ||
| Inferred | 6.05 | 0.97 | 0.18 | 0.08 | 129.4 | 35.0 | 15.6 | ||
| Combined |
0.29/ 0.75 |
Measured | 11.92 | 0.75 | 0.22 | 0.09 | 197.1 | 84.3 | 34.49 |
| Indicated | 31.52 | 0.71 | 0.19 | 0.08 | 493.4 | 192.5 | 81.1 | ||
|
Measured and Indicated |
43.44 | 0.72 | 0.2 | 0.09 | 689.5 | 279.3 | 125.7 | ||
| Inferred | 9.2 | 0.86 | 0.16 | 0.07 | 174.43 | 47.33 | 20.71 |
Minago has similar structural, geological and mineralogical characteristics to other deposits located on the Thompson Nickel Belt. Platinum Nickel mineralization at the Minago Project remains open at depth beyond 350 meters and along strike. Substantial volume of known platinum nickel mineralization was excluded as a result of the cut-off grades applied. Flying Nickel believes that some of the excluded mineralization could be included in the contained in-situ resource at higher metal prices.
Issuance of an updated Environment Act License is expected in 2023, along with completion of a Feasibility study. The proposed Minago open pit operation could potentially have one of lowest carbon emissions, as hydro accounts for 97% of all electricity generation in Manitoba.
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