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Nautilus Minerals Inc.
Summary
| Project: | Solwara | |
|---|---|---|
| Deposit: | Solwara 1 | |
| Location: | Papua New Guinea | |
| Commodities: | Copper-Gold-Silver-Zinc | |
| Date: | 2/27/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 27-2-2018: Nautilus Minerals Inc. announces a PEA report for its Solwara 1 deposit at the Solwara project. PEA results incl. NPV (15%) $ 56M, IRR 28%, LOM 3yrs. Nautilus Minerals Niugini Ltd (Nautilus) engaged AMC Consultants Pty Ltd (AMC) to undertake a | |
| Resources: | (Resource, Ind.): 1.03Mt @ 7.2% Cu, 5.0g/t Au, 23g/t Ag, 0.4% Zn | |
| CP/QP: | [Resources]: Ian Lipton (AMC Consultants Pty Ltd.) | |
| ABSTRACT: | Nautilus Minerals Niugini Ltd (Nautilus) engaged AMC Consultants Pty Ltd (AMC) to undertake a Preliminary Economic Assessment (PEA) for the Solwara 1 project (the Project) and compile a Technical Report compliant with Canadian National Instrument (NI) 43-101. The Solwara 1 project is a deep-sea mining project where construction of a commercial-scale mining operation to extract deep-sea metallic mineral resources is well advanced. Production has not yet occurred. There are no Mineral Reserve estimates for Solwara 1 and the potential viability of the Mineral Resources has not yet been supported by a pre-feasibility study or a feasibility study. The terms “mineralised material” and "material" are used in this report to denote mineralised material above a cut-off grade on which the proposed mining, processing and product shipping activities are designed to operate. It does not imply that Mineral Reserves have been estimated at the date of this report. The Solwara 1 Seafloor Massive Sulfide (SMS) deposit is located in the Bismarck Sea at latitude 3.789° S and longitude 152.094° E, approximately 50 km north of Rabaul (Figure 1.1). It lies within the territorial waters of the Independent State of Papua New Guinea (PNG). The deposit contains significant resources of massive base metal sulfides, gold and silver. The metals of primary economic interest are copper and gold. | |
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