To the West of this is East Bull Lake with Aqualine and Mustang Minerals and to the East is Pfn, Aqi, and Mmin of this significant find.
TORONTO, Oct. 19 /99
Inco Limited announced today a new area of
mineralization located at one of its Ontario Division's mines.
As part of the ongoing exploration program conducted at the Ontario
Division, which includes work at existing operating mines and mines on
standby, recent drilling at the Division's Totten mine, which ceased
production in 1970 and has been on standby status since that time, located a
new high grade zone of nickel, copper and platinum-group metals. Six holes
have all intersected high total metal grades, ranging from 0.9% to 3.3%
nickel, from 1.6% to 5.4% copper and platinum-group metals from 6.3 to 8.7
grams per tonne over true thicknesses varying from 6.3 metres to 35.6
metres.
The highest grade intersection contained 3.2% nickel, 3.6% copper and 5.7
grams per tonne platinum-group metals over an estimated true thickness of 16
metres.
Geophysical surveys have confirmed the continuity of the mineralization
between the holes drilled and have indicated further extensions to the
south.
The zone is readily accessible from the Totten mine's existing 1400 metre
shaft situated between 100 metres and 300 metres to the north of the zone.
Drilling has continued with two rigs to seek extensions to this new zone
with
the objective of proving a high-grade orebody exploitable at low capital
cost.
An estimate of the resource grade and tonnage is expected to be completed in
the first quarter of 2000.
Inco's exploration program at its Ontario Division concentrates on the
search for potential new sources of high grade ore, preferably at shallow
depths or adjacent to current infrastructure, which may be developed and
mined
at low cost. For 1999 it is currently expected that $6.4 million (U.S.) will
be spent in the Ontario Division on underground and surface exploration of
several high potential targets.
Inco is one of the world's premier mining and metals companies. It is a
leading producer of nickel, supplying about 26 per cent of total world
demand.
It is also an important producer of copper, precious metals, and cobalt.
This news release contains forward-looking statements regarding the
Company's exploration program. Actual results may differ materially from
those contemplated by these statements depending on, among others, such key
factors as ongoing exploration activities and results.
UPDATE Feb 7, 2000.
Inco now has 4 Large surface drill rigs working the Totten project, this is
a part of the Worthington offset quartz diorite dyke which extends several
Km's to the South-west from the main ring structure of the sudbury igneous
complex.
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