SUDBURY, ON, March 26 /CNW/ - Independent Nickel Corp. (INI: TSX-V) (the
"Company") has commissioned Wardrop Engineering Inc. ("Wardrop") to complete
all aspects of a full pre-feasibility study on the opening of the Lynn Lake
The full pre-feasibility study will determine the technical and capital
requirements to open the Lynn Lake nickel mine, which is historically the
third largest nickel sulphide mining camp in North America.
Since receiving the Preliminary Economic Assessment in October, 2006 the
Company, together with Wardrop, has identified opportunities for reducing
costs, in addition to identifying specific elements that can improve the
project's economics. The specific areas where improvements and cost savings
may be realized include:
- Shortening the time line to mine start up;
- Calculating cobalt sales as part of mine revenue;
- Metallurgical test work and studies to determine metal recoveries and
increase grades of mill concentrate;
- Advanced mine design and optimization; and
- Detailed economic analysis using updated metal prices for nickel,
copper and cobalt.
The pre-feasibility work will include metallurgical testing of bulk
composite drill core to determine how modern metallurgical technologies can
improve on the historic metal recoveries, further enhancing the project
economics. Nickel ore at the Lynn Lake mine was last milled in 1976; since
that time there have been considerable advances in extractive metallurgy.
"This is the next milestone for the Lynn Lake nickel mine project,"
stated Richard Murphy, President and CEO of Independent Nickel Corp. "We
believe that pre-feasibility work, along with the 20,000 meter drill program
we recently kicked off, will advance the project enormously, and move the
Company closer to realizing on the value of its Nickel assets."
This document may contain forward-looking statements relating to
Independent Nickel Corp.'s (INI) operations or to the environment in which it
operates. Such statements are based on operations, estimates, forecasts and
projections. They are not guarantees of future performance and involve risks
and uncertainties that are difficult to predict and may be beyond INI's
control. A number of important factors could cause actual outcomes and results
to differ materially from those expressed in forward-looking statements,
including those set forth in other public filings. In addition, such
statements relate to the date on which they are made. Consequently, undue
reliance should not be placed on such forward-looking statements. INI
disclaims any intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise, save and except as may be required by applicable securities laws.
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY
OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE
For further information:
For further information: Independent Nickel Corp., Richard Murphy,
President and CEO, Tel: (705) 521-8444, Email: firstname.lastname@example.org, 957
Cambrian Heights Drive, Suite 102, Sudbury, Ontario, P3C 5M6