Canada-based Exploration Company, Continental Nickel has announced that the estimated and indicated mineral resources of the company at Ntaka Hill Nickel Project has increased by 150% as compared to the previous mineral resource estimate, which was conducted in April 2011.
The Ntaka Hill Nickel Project is part of a 75:25 joint venture between IMX Resources and CNI and covers the Nachiingwea property at Southern Tanzania.
The estimate results established that the estimated and indicated nickel mineral resources increased from 60,900 t to 154,700 t. Nickel in inferred mineral resources increased from 131,000 t to 135,000 t. Combined nickel measured and indicated resources at the Sleeping Giant and NAD013 zones which are now part of the same mineralised zone has increased from 6,000 t to 102,400 t. part from this partnership the company also has a partnership option at the St Stephen project in New Brunswick Canada. The company has a 75% asset interest in the Nachingwea property in Tanzania. The estimates were carried out in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum’s definition with regard to mineral reserves and resources.