The new victory nickel site--NI NWI spin off:
A Track Record of Exploration and Development Success
Victory Nickel Inc. is a growth-oriented Canadian nickel company with over 600 million pounds of in-situ nickel in National Instrument 43-101-compliant measured and indicated resources at its Minago, Mel and Lac Rocher sulphide nickel deposits.
Recently created from the nickel assets of Nuinsco Resources Limited (TSX:NWI), Victory Nickel is a well financed pure-play nickel company focused on becoming a producer by developing our existing properties and evaluating opportunities to expand our asset base.
Minago Project
Victory Nickel’s assets in Manitoba and Quebec include:
Minago Project, Manitoba
Victory Nickel is advancing its 100% owned Minago Project, located 225 kilometres south of Thompson, Manitoba in the Thompson Nickel Belt, toward production. NI 43-101 measured and indicated resources total 49,000,000 tonnes grading 0.516% nickel, plus an additional inferred resource of 44,100,000 tonnes grading 0.528% nickel. A recent scoping study placed a net present value on Minago of $334,000,000 using an 8% discount rate and a nickel price of US$7.43/pound. Significant upside remains to the north of the resource area and at depth, where the most recent drill hole ended at 830 metres depth in 3.93 metres grading 1.91% nickel. A bankable feasibility study is underway, and is expected to be complete in early 2008.
Nickel - Mel Project, Manitoba
The Mel Project is located in northern Manitoba, 25 kilometers north of the city of Thompson. The properties are owned by Inco/CVRD, with Nuinsco earning a 100% interest. The Mel deposit offers near-term production potential and exploration upside, and hosts 2,740,000 tonnes of NI 43-101-compliant measured and indicated nickel resource grading 0.77% nickel for 46 million pounds of nickel between depths of 46 and 183 metres.
Nickel - Lac Rocher Project, Quebec
Located in northwestern Quebec, some 140 kilometres northeast of the village of Matagami and about 50 kilometres east of paved Highway 109, the high-grade Lac Rocher project is a significant discovery by Nuinsco. A 3.2 metre massive sulphide intersection in drill hole NLR-99-01 returned a weighted average of 10.8% nickel as part of a 61.5 metre interval grading 1.69% nickel. Subsequent drilling has delineated a measured and indicated nickel resource of 1.2 million tonnes grading 0.93% nickel for an in-situ total of 25 million pounds of nickel.
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