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Tartisan Nickel Provides Positive Preliminary Economic Assessment for the Kenbridge Nickel Project, Kenora Mining District, Northwestern Ontario
Toronto, Ontario--(Newsfile Corp. - July 12, 2022) - Tartisan Nickel Corp. (CSE: TN) (OTCQX: TTSRF) (FSE: 8TA) ("Tartisan", or the "Company") is pleased to anno
About this update from Tartisan Nickel Corp.
[{"type":"text","content":" Toronto, Ontario--(Newsfile Corp. - July 12, 2022) - Tartisan Nickel Corp. (CSE: TN) (OTCQX: TTSRF) (FSE: 8TA) (\"Tartisan\", or the \"Company\") is pleased to announce the completion of a positive Preliminary Economic Assessment (\"PEA\") for the 100% owned Kenbridge Nickel Project. The Kenbridge Nickel Project is in the Kenora Mining District, Northwestern Ontario. Kenbridge has an existing shaft to a depth of 2,042 ft (622 m), with level stations at 150 ft. (45 m) intervals below the shaft collar and two levels developed at 350 ft (107 m) and 500 ft (152 m) below the shaft collar. The PEA was independently prepared by P&E Mining Consultants Inc. (\"P&E\") of Brampton, Ontario under the supervision of Eugene J. Puritch, P.Eng., FEC, CET. Highlights of the PEA (All currency is $CDN unless stated otherwise) This PEA is focused solely on mining of the Mineral Resources at the Kenbridge Nickel Project underground mine and provides a solid base case for moving the Kenbridge Project forward. The PEA indicates a 9-year mine plan based on a 1,500 tonne per day underground mining and processing operation. The mine plan assumes the potentially extractable tonnage of Measured, Indicated and Inferred Mineral Resources which assumes overall dilution of 47% (18% internal dilution from stope designs plus 29% external dilution) and a 94% mine recovery factor. Measured and Indicated Mineral Resources represent 3,508,000 tonnes at 0.70% Ni, 0.35% Cu and 0.01% Co (54 Mlb Ni, 27 Mlb Cu). Inferred Mineral Resources represent 1,013,000 tonnes at 1.21% Ni, 0.56% Cu and 0.01% Co (27 Mlb Ni, 13 Mlb Cu). Metal prices are based on long-term industry consensus forecast with nickel representing the primary contribution to revenues. USD metal prices used in the PEA were USD$10/lb Ni, USD$4/lb Cu and USD$26/lb Co. A $USD:$CDN exchange rate of 0.78 is applied. Life of mine (\"LOM\") processing recovers 200,900 tonnes of nickel concentrate at 15% Ni and 66,900 tonnes of copper concentrate at 24% Cu. This results in 52.6 million lbs of payable Ni and 30.7 million lbs of payable Cu. LOM revenues from net smelter returns are estimated at $837 million. LOM operating costs are estimated at $292 million. Mining costs are estimated at $38.94 per tonne mined, processing costs are $17.74 per tonne and G&A costs are $7.96 per tonne. Cash operating costs ar...