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WEST GRAHAM-FIRST NICKEL OPTI
WEST GRAHAM-FIRST NICKEL OPTI.
About this update from Landore Resources Limited
[{"type":"text","content":"\n RNS Number : 1014N Landore Resources Limited 10 February 2009 \n \nLANDORE RESOURCES LIMITED\n \nWEST GRAHAM-FIRST NICKEL OPTION\nRESOURCE STATEMENT.\n\nFirst Nickel is carrying out exploration on Landore's West Graham property and the following is an extract from their recently published results.\n\n-BEGINS-\n\nWEST GRAHAM NI 43-101 INDICATED MINERAL RESOURCE ESTIMATE: 8.55 MILLION TONNES AT A GRADE OF 0.45% NI AND 0.31% CU\n\nFebruary 9, 2009 - Toronto, Ontario - First Nickel Inc. (FNI-TSX) is pleased to report the initial mineral resource estimate for the West Graham property, Conwest Zone located approximately 1.5 kilometres to the east of the #2 head-frame of First Nickel's Lockerby Mine. The West Graham property is under option from Landore Resources Canada Inc. and the details of the option agreement were provided in a press release dated August 4, 2005.\nThe total in situ Indicated Mineral Resource estimate is tabulated as follows:\n\n\n\n\nTonnes\n(000's)\n\n\nNi%\n\n\nCu%\n\n\nCo%\n\n\nAu gpt\n\n\nPt gpt\n\n\nPd gpt\n\n\nAg gpt\n\n\nS%\n\n\n\n\nIndicated Resource\n\n\n\n\n8,550\n\n\n0.45\n\n\n0.31\n\n\n0.01\n\n\n0.03\n\n\n0.07\n\n\n0.02\n\n\n1.91\n\n\n2.43\n\n\n\n\nInferred Resource\n\n\n\n\n2,000\n\n\n0.38\n\n\n0.30\n\n\n0.01\n\n\n0.04\n\n\n0.09\n\n\n0.03\n\n\n2.11\n\n\n2.15\n\n\n\n\nBoundary Pillar\n\n\n\n\n270\n\n\n0.57\n\n\n0.33\n\n\n0.02\n\n\n0.02\n\n\n0.06\n\n\n0.02\n\n\n1.29\n\n\n3.00\n\n\n\n\n\n \n Notes\n\n\nCIM definitions were followed for Mineral Resources.\n\n\nMineral Resources are estimated within a mineralization wireframe cut-off grade of 0.3% nickel equivalent. The cut-off grade is based on geologic continuity, as well as a preliminary estimate of bulk underground incremental operating costs, an average long-term nickel price of US$7.00/lb, and a C$/US$ exchange rate of $0.90.\n\n\nNickel equivalent is derived from the equation, NiEq% = Ni% + (0.32xCu%) + (0.53xCo%).\n\n\nResources ...