nickel-exploration-near-surface-mineralization-traced-north-of-old-texmont-mine ONTARIO — Fletcher Nickel of Toronto has traced a large-tonnage, near-surface resource north of the former Texmont mine near Timmins. The mineralization continues about 800 metres along strike, increasing the overall strike length to about 1,100 metres. The mineralization may be minable by open pit.
Fletcher recently reported best drill core assays of 0.64% Ni over 8.0 metres in hole 08-49, 2.20% Ni over 10.5 metres in hole 08-32 and 0.66% Ni over 6.0 metres in hole 08-106. The company was further encouraged by the results of metallurgical testing that achieved concentrate grades of 13% to 21% Ni after three stages of cleaning.
The Texmont mine operated briefly from July 1971 to December 1972 with a 450-t/d mill. The property is serviced by a three-compartment shaft to 240-metres below surface.
Fletcher has filed a rehabilitation report and completed the baseline studies required for the filing of applications to dewater the underground workings.
"The Texmont mine itself produced at a reported average grade of plus or minus 1% Ni and we have completed some scoping studies which indicate the orebody might be mined at a rate of up to 2,000 t/d from the existing shaft," said CEO Frank Smeenk.