Raglan is an attractive deposit with 24.6 million tonnes of reserves and resources with close to 3% nickel and considerable potential for further discoveries. In 2004, new discoveries and extensions to current ore zones added tonnes to the mineral reserves and resources equivalent to twice the amount of ore mined during the year. Continued growth in Raglan's resource base supports future production rate increases (see Raglan Optimization).
In support of the mill capacity expansion at Raglan, Falconbridge has conducted major exploration drill campaigns at Raglan in the past three years. The primary objective was to discover new mineral resources representing at least double the production rate. This objective was met in the past two years of exploration and has already been exceeded for 2005. The second key objective, which was to establish the next flagship mining area for the Raglan Operation, has also been attained. This new mining area will be Zone 5-8, located 5 kilometres east of the operating Katinniq mill and concentrator.
As of December 2004, reserves (proven and probable) at Zone 5-8 totalled 747,700 tonnes grading 3.01% nickel, 0.81% copper, 0.06% cobalt, 0.87 grams per tonne platinum and 2.51 grams per tonne palladium and resources included 707,000 tonnes grading 2.60% nickel and 0.55% copper of indicated resources and 2,182,000 tonnes grading 3.30% nickel and 0.80% copper of inferred resources. Drill results from the ongoing 2005 campaign at Zone 5-8 have been excellent. See "Falconbridge's Nickel Exploration Program at Raglan Delivers Excellent Results. Wholly-owned Operation Identifies Next Flagship Mining Area," September 15, 2005 (Press Releases).
A preliminary estimate indicates that a minimum of 1.8 million tonnes of inferred resources grading 3.3% nickel will be added as a result of the 2005 program. This preliminary estimate only includes Zone 5-8 lenses which have been intersected with three or more drillholes spaced between 25 and 50 metres apart.
Mineralization at Zone 5-8 occurs in 15 lenses ranging in depth from surface to 600 metres. A key development from the exploration program has been the discovery of Lens 8H which is now the largest single lens ever discovered on the Raglan property. Lens 8H has an inferred resource of 2.2 million tonnes grading 2.8% nickel. The mineralization remains open to the north, east and west.
In addition to the diamond-drilling campaign at Zone 5-8, exploration drilling continues elsewhere on the Raglan property, which covers the highly prospective Raglan Horizon containing significant nickel-copper-cobalt-platinum group metals deposits and prospects at intervals along its entire 70 kilometre strike length. Falconbridge intends to sustain diamond drilling at Raglan with the objective of continuing to increase the mineral resource base at a rate that exceeds the production rate and to provide the necessary information for optimal, future development of the Raglan camp. Raglan is a relatively young camp and excellent exploration targets remain at shallow depths.
Raglan Operations
For more information, please contact exploration@falconbridge.com. |
