Dumont Nickel Inc. ("DNI") Mobilizes For 1999 Drilling Program At Raglan
TORONTO, ONTARIO--Dumont Nickel Inc. started to position fuel,
camp equipment, and supplies at the Lac Raglan nickel-copper-PGE
(platinum group elements) property in preparation for a 5,000 to
6,000 m diamond drilling program which will begin in late June,
1999. Dumont has also commenced a 350-km airborne survey on the
eastern 17 km of the Raglan Horizon on Dumont's Lac Raglan
Property. The 178 square km Lac Raglan property covers a strike
length of 31 km of the prospective Raglan Horizon, contiguous and
to the east of Falconbridge's Raglan mining camp. Further details
may be obtained at Dumont's website at www.dumontnickel.com.
Dumont acquired the west half of the Lac Raglan property in 1998
and completed magnetic, electromagnetic and geological surveys.
Six targets interpreted as mineralized ultramafic rocks in the
Raglan Horizon have been prepared for this year's diamond drilling
program. The eastern half of the Lac Raglan property was acquired
in 1999 and Dumont anticipates that an airborne geophysical survey
in progress will define at least two additional drill targets in
the Raglan Horizon. Drilling at Lac Raglan will commence in late
June 1999 in conjunction with prospecting, mapping, and ground
geophysical surveys in prospective areas of the Lac Raglan
property where additional drill targets may be defined.
Ground magnetic, electromagnetic and geological surveys were also
completed by Dumont at the Shoot Out property in 1998. The Shoot
Out property is in an east-trending belt of ultramafic rocks on
the Delta Horizon 15 to 20 km south of the Raglan Horizon. Two
drill targets were identified in 1998, one of which is related to
a drill intersection of 1.77 m of 3.1 percent Ni and 2.3 percent
Cu reported by Cominco in the late 1970's.
Falconbridge commenced production at Raglan in December 1997. The
Raglan operation is an integrated mining, milling, transportation,
and residential complex that was commissioned at a capital cost of
CDN $580 million. The ore bodies at Raglan are high-grade
nickel-copper-PGE sulphide deposits that occur in a narrow,
east-trending corridor of ultramafic rocks known locally as the
"Raglan Horizon". The largest sulphide deposits are Donaldson
(3,510,000 tonnes @3.75 percent Ni, 0.83 percent Cu, 6.6 g/t PGE),
Katinniq (8,970,000 tonnes @ 3.06 percent Ni, 0.89 percent Cu),
Zone 2 (2,650,000 tonnes @ 2.62 percent Ni, 0.84 percent Cu) and
Cross Lake (2,000,000 tonnes @ 2.06 percent Ni, 1.05 percent Cu,
5.95 g/t PGE) (Falconbridge, PDA, March 1999). The published
reserve of the mining camp is 22.1 million tonnes grading 3.06
percent Ni, and 0.87 percent Cu. Although there are considerable
amounts of PGE in the ores the average camp grade of PGE has not
been published. The Raglan complex will produce 130,000 t/y of
high grade nickel-copper concentrate containing 21,000 t of
nickel, 5,000 t of copper, 200 t of cobalt and significant
quantities of platinum group elements at a production of cost of
US$1.50/lb of nickel. The operation is one of the world's lowest
cost nickel producers (Mining Magazine, November 1998).
Further details on Dumont and its properties may be obtained at
Dumont's website at www.dumontnickel.com.
THIS PRESS RELEASE WAS PREPARED BY DUMONT NICKEL INC., WHICH
ACCEPTS THE RESPONSIBILITY AS TO ITS ACCURACY. NO REGULATORY
AUTHORITY OR SIMILAR BODY HAS APPROVED OR DISAPPROVED THE
INFORMATION CONTAINED HEREIN.
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FOR FURTHER INFORMATION PLEASE CONTACT:
Dumont Nickel Inc.
Denis Clement
(416) 364-5569
or
Dumont Nickel Inc.
Tom Obradovich
(705) 567-6883
or
Dumont Nickel Inc.
Steve McIntyre
(416) 368-1013
Email info@dumontnickel.com
www.dumontnickel.com
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