SUDBURY, ON, Oct. 11 /CNW/ - Independent Nickel Corp. (TSX: INI) (the
"Company") announced today that it is in receipt of metallurgical test results
on ore from its Lynn Lake Nickel deposit. Testing completed confirms that a
conventional milling and flotation process delivers very high metal recoveries
from Lynn Lake nickel ores. Highlights of the results are as follows:
- Nickel recovery of 81.5%;
- Copper recovery of 92.0%;
- Cobalt recovery of 80.5%;
- A high quality mill concentrate containing 9.3% nickel, 7.5% copper
and 0.3% cobalt; and
- Favorably low magnesium (MgO) content of 1.3% in the concentrate.
As a result of these high recovery rates and concentrate characteristics,
Wardrop Engineering is evaluating the bioleach model as the base economic case
in the current pre-feasibility study. To that end, the Company has recently
completed test work to determine the amenability of the Lynn Lake concentrate
to bioleaching. Initial testing in this regard has been very successful. High
rates of metal recoveries leached from the concentrate have been realized,
including 92.5% for nickel. 81.4% for copper and 85% for cobalt. These
recoveries confirm that the sulphur content of the concentrate is within an
acceptable range for bioleaching.
As the Company intends to pursue the bioleaching of concentrate process
for the Lynn Lake nickel mine, it has initiated discussions with a number of
organizations with global expertise in the area of bioleaching. Company
President and CEO, Richard Murphy, along with a senior Wardrop engineer with
expertise in the field of bioleaching, recently traveled to South Africa and
Uganda to meet with several bioleach operators. This included a tour of the
Kasese Cobalt bioleach facility in Uganda. The results of this due diligence
were very positive, with both the Company and Wardrop representatives coming
away with a strong sense of the technical feasibility of a bioleach facility
at Lynn Lake.
The Company is planning further metallurgical work, with a view to
bringing bioleaching, a globally proven process technology, to North America,
where base metal ores have traditionally been treated by relatively expensive
and less environmentally friendly smelters.
The attraction of the bioleaching economic model to the Company is
twofold. First, the Company will avoid costly transportation and smelter fees
associated with selling concentrate. Second, a bioleach facility can be
coupled with a conventional solvent extraction-electrowinning circuit to
produce a refined nickel product.
The establishment of such a facility at Lynn Lake will position
Independent Nickel among a very short list of integrated nickel producers and
marketers of nickel products worldwide, of which there are currently only
three in North America. As an integrated nickel producer and marketer, the
Company will be better positioned to realize the maximum value from its nickel
All metallurgical test work was completed by Process Research Associates
of Richmond, British Columbia, under the supervision of Wardrop Engineering.
Metallurgical results will be incorporate into the Pre-feasibility Study on
the Lynn Lake Nickel deposit, which is scheduled for completion at the end of
Independent Nickel owns 100% of the Lynn Lake Nickel Mine, located in
Lynn Lake, Manitoba. The Company also owns a Net Smelter Return Royalty on
Victory Nickel Inc.'s Minago Nickel Property, also located in Northern
Manitoba. The NSR pays the Company 3% of all mineral product value when nickel
prices exceed US$6/lb.
Tim Maunula, P.Geo, of Wardrop Engineering Inc. and Project Manager for
the Lynn Lake prefeasibility study, has reviewed and approved the content of
this press release.
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.
For further information:
For further information: Independent Nickel Corp., Richard Murphy,
President and CEO, Tel: (705) 521-8444, Email: email@example.com, 957
Cambrian Heights Drive, Suite 102, Sudbury, Ontario, P3C 5M6