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Lundin Mining Corp.
Summary
| Project: | Eagle Mine | |
|---|---|---|
| Deposit: | Eagle East | |
| Location: | United States | |
| Commodities: | Nickel-Copper-Gold-Silver-Platinum-Palladium-Cobalt | |
| Date: | 6/29/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Active Mining & Production | |
| Report details: | 29-6-2016: Lundin Mining Corp. announces a PEA report for its Eagle East deposit at the Eagle Mine project. Eagle East PEA results incl. post-tax NPV (8%) of $181M, IRR of 40%. Roscoe Postle Associates Inc. (RPA) was retained by Lundin Mining Corporation | |
| Resources: | (Reserve, P+P): 3.717Mt @ 2.6% Ni, 2.2% Cu, 0.1% Co, 0.5g/t Pt, 0.4g/t Pd, 02g/t Au at Eagle | |
| CP/QP: | [Resources]: David Rennie, Normand Lecuyer (Roscoe Postle Associates Inc.) | |
| ABSTRACT: | Roscoe Postle Associates Inc. (RPA) was retained by Lundin Mining Corporation (LMC) to complete a review of a Mineral Resource estimate and internal Preliminary Economic Assessment (PEA) by LMC on the Eagle East Project (Eagle East) and to prepare an independent Technical Report on the Eagle Mine (Eagle) property, located in the Upper Peninsula of Michigan, USA. The purpose of this report is to support the public disclosure of the Mineral Resource and Mineral Reserve estimates. This Technical Report conforms to NI 43-101 Standards of Disclosure for Mineral Projects. RPA last visited the property on June 7 and 8, 2016. The Eagle Mine is an operating 2,000 tonnes per day (tpd) underground nickel copper mine. Ore from the Eagle Mine is trucked approximately 105 km to the Humboldt Mill, a former iron ore processing facility which was refurbished by Eagle. The Eagle Mine is 100% owned by LMC through wholly owned affiliates. The Eagle deposit is covered by both state and private mineral leases with the Mineral Resource split approximately 50:50 between them. The Eagle Mine has obligations under state and private royalty agreements ranging from 1.0% to 7.0%. The Eagle deposit was first drilled in 2001 by Rio Tinto. Following further drilling, an initial Mineral Resource was estimated in early 2004. Construction of the Eagle Mine site began in 2010. LMC acquired the project in 2013 and commercial production of nickel and copper concentrates was achieved in November 2014. | |
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