RE:RE:Thank YouI suspect FT is aware of some of your points and consequently has continued to sharpen their pencil (even though they already had a positive feasibility study), as outlined in their latest MD&A;
Before completing an updated Technical Report for the NICO Project, Fortune has been assessing a number of optimizations it has recognized to make a more financially robust project that include: - A new Mineral Resource block model with a more constrained approach to the mineralization interpolation boundaries to reduce internal and external dilution and differentiate higher grade resource blocks for earlier processing; - The block model has also identified some additional high grade blocks as well as mineralized material at the volcanic sedimentary rock interface that were not included in previous Mineral resource estimates; - The grade interpolation wireframe boundaries were also extended to surface where the deposit is known to outcrop and to depth where the gold zone had been too abruptly terminated; - A new mine plan and schedule has been completed based on the new Mineral Resource model with a reoptimized open pit shell and an expansion to the selective underground mining of gold-rich ores located close to the existing decline ramp for processing in the first three years of the planned mine life; and - The open pit mine fleet has been amended with smaller equipment to reduce dilution with waste rock and match the lower mining rate; and - The Company is reviewing equipment selections to reduce capital costs. Add to this the upcoming assay results and any economic concerns should be allayed. In the event you’re not familiar with the work the Geological Survey of Canada has done at the NICO site, I’ve attached the URL to one of their reports* which obviously isn’t deterministic, but provides an idea of the site’s potential.
* A Magnetotelluric Survey and Preliminary Geophysical Inversion and Visualization of the NICO IOCG deposit, Northwest Territories
https://geoscan.nrcan.gc.ca/starweb/geoscan/servlet.starweb?path=geoscan/fulle.web&search1=R=292869