Class 1 Nickel posts a two-million-tonne-plus resource at Alexo-Dundonald Project
A new nickel sulphide player has fully emerged in the Timmins camp seeking to revive a well-known piece of mining ground.
Class 1 Nickel and Technologies released a very promising new mineral resource estimate for its Alexo-Dundonald Nickel Project, 45 kilometres northeast of the city.
The Toronto-based company reported an updated estimated indicated mineral resource of 1.25 million tonnes with an average grade of 0.99 per cent of nickel, and a total estimated inferred mineral resource of 1.01 million tonnes with an average grade of 1.08 per cent.
The indicated resource count has jumped 119 per cent since the last mineral estimate in June. The inferred resource ballooned by 1,400 per cent.
The company thinks it has a turn-key project on its hands that can be fast-tracked into nickel and cobalt production with little capital expenditure.