Oct 6 2014
Duluth Metals Limited ("Duluth" or "Duluth Metals") today announced that it has filed on www.SEDAR.com the independent National Instrument 43-101 Technical Report ("PFS Technical Report") on the Twin Metals Minnesota Project ("TMM Project") prepared for Duluth Metals by a multi-company team led by AMEC E&C Services Inc. ("AMEC").
Work will continue to advance the project situated in northeastern Minnesota. The joint venture partners, Duluth Metals and Antofagasta plc are working together to evaluate the opportunities and various value engineering possibilities with the project. In addition, Barclay's Global Mining Team is fully engaged in the strategic review first announced in a press release dated July 7, 2014.
"The completion of the PFS Technical Report by AMEC is a significant milestone for the TMM Project and Duluth Metals," stated Kelly Osborne, President and CEO of Duluth Metals. "The Technical Report filed with SEDAR validates the economic feasibility of the Project supported by a highly defined resource with 21st century engineering design and test work. As the Project enters into the next phase, many of the opportunities highlighted in the Technical Report will be evaluated."
The PFS Technical Report demonstrates that the proposed underground copper, nickel, platinum, palladium and gold mining project is supported by strong technical fundamentals and offers a potential competitive advantage through extensive infrastructure such as accessible roads, rail lines, ports, power and water supplies and local labor force. Results from the PFS Technical Report were referred to in the Duluth's press release dated August 20, 2014. The full report, as well as an executive summary, can also be found on Duluth's website at www.duluthmetals.com.
Phillip Larson, P. Geo. is the Qualified Person for Duluth Metals, in accordance with National Instrument 43-101 of the Canadian Securities Administrators, and reviewed and has approved the technical content of this press release.
About Duluth Metals Limited
Duluth Metals is committed to acquiring, exploring and developing copper, nickel and PGM deposits. Duluth Metals has a joint venture with Antofagasta on the TMM Project, located within the rapidly emerging Duluth Complex mining camp in north-eastern Minnesota. The Duluth Complex hosts one of the world's largest undeveloped repositories of copper, nickel and PGMs, including the world's third largest accumulation of nickel sulphides, and one of the world's largest accumulations of polymetallic copper and platinum group metals. Aside from the TMM Project, Duluth Metals retains a 100% position on approximately 30,000 acres of mineral interests on exploration properties adjacent to and nearby the TMM Project.
About Twin Metals Minnesota LLC
TMM is a limited liability company, 60 percent owned by Duluth and 40 percent owned by Antofagasta. TMM was formed in 2010 to pursue the development and operation of a copper, nickel and PGM (strategic metals) underground mining project within the Duluth Complex in northeastern Minnesota. TMM holds mineral and land assets of approximately 40,000 acres of leased, leased applications and permitted land.
Source: http://www.duluthmetals.com/