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Nautilus Minerals Inc.
Summary
| Project: | Clarion Clipperton Fracture Zone | |
|---|---|---|
| Deposit: | Clarion Clipperton Fracture Zone | |
| Location: | United States | |
| Commodities: | Manganese-Nickel-Copper-Cobalt | |
| Date: | 5/26/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 26-5-2016: Nautilus Minerals Inc. announces a Resource Estimation report for its Clarion Clipperton Fracture Zone deposit at the Clarion Clipperton Fracture Zone project. Upgraded mineral resource estimate for Clarion-Clipperton Fracture Zone (CCZ). A lar | |
| Resources: | (Resource): 685.3Mt (Inf.), 68.1Mt (Ind.), 2.6Mt (Meas.) all wet | |
| CP/QP: | [Resources]: Matthew Nimmo (Independent) | |
| ABSTRACT: | A large deposit of polymetallic nodules is located in the Clarion Clipperton Zone (CCZ) of the northern central Pacific Ocean. Despite the nodules being located at great depths (4 000 to 6 000 m), they were explored with considerable success between the mid-1960s to the present day using a variety of increasingly sophisticated deep-sea technologies. In early 2012, Tonga Offshore Mining Limited (TOML), a 100% owned subsidiary of Nautilus Minerals Inc. acquired an Exploration Area of 74 713 km2 of the CCZ. In line with the requirements of the relevant oversight body (International Seabed Authority or ISA) TOML is sponsored by the government of the Kingdom of Tonga. The contract for exploration of polymetallic nodules was approved in July 2011, and then formalised on 11 January 2012. The Exploration area consists of six separate areas (termed Areas A to F) scattered across the CCZ (Figure 1.1). TOML has commissioned AMC Consultants Pty Ltd (AMC) to prepare a Technical Report in accordance with the Canadian National Instrument 43-101 reporting standards (NI43-101) and Form 43-101F1. The Report presents the results of exploration and related studies carried out between 2013 and 2016 and an updated Mineral Resource estimate. The Mineral Resource statement was prepared in accordance with the CIM “Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines” | |
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