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Global Ferronickel Holdings Inc.
Summary
| Project: | Cagdianao | |
|---|---|---|
| Deposit: | Cagdianao | |
| Location: | Philippines | |
| Commodities: | Nickel-Iron | |
| Date: | 10/5/2017 | |
| Report Code: | (other Code) | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 5-10-2017: Global Ferronickel Holdings Inc. announces a Resource Estimation report for its Cagdianao deposit at the Cagdianao project. Updated mineral resource estimate at Cagdianao. Manila, Philippines/ October 5, 2017. Global Ferronickel Holdings, Inc. | |
| Resources: | (Resource, M+I):54.160Mt @ 1.1% Ni, 31.4% Fe at project | |
| CP/QP: | [Resources]: Edgardo G. Garcia (Independent) | |
| ABSTRACT: | Manila, Philippines/ October 5, 2017. Global Ferronickel Holdings, Inc. (FNI) announces updated mineral resource estimate of its subsidiary Platinum Group Metals Corporation (PGMC) following the completion of drilling activities at Cagdianao (CAGA) deposit areas 2 and 3. Combined measured and indicated mineral resources at CAGA 1 to 5 have increased by 3.846 million dry metric tons (DMT), from 50.314 million DMT to 54.160 million DMT with an average grade of 1.1% nickel and 31.4% iron. Material mix consists of 69% or 37.164 million DMT medium-grade, 20% or 10.766 million DMT low-grade and 11% or 6.23 million DMT high-grade. Inferred resources also increased by 5.901 million DMT, from 18.081 million DMT to 23.982 million DMT with an average grade of 1.2% nickel and 21.5% iron. “The updated exploration information is very encouraging as it continues to add great value to our assets,” said Atty. Dante R. Bravo, President of FNI. “Even as we are continuing to mine CAGA 2 and 4, our exploration program allows us to successfully increase our resource inventory and continually upgrade resource confidence level. And we still have significant scope for further exploration. We expect to report new drill data for CAGA 1, 6 and 7 in 2018.” | |
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