VWM Expects Early Commercialization of Sulawesi Nickel

Resources

Thursday, 25 November 2010 11:00

Theindonesiatoday.com - Australian listed Victory West Moly Ltd (ASX: VWM) reported a significantly refined exploration target size for the nickel laterite mineralization at its USSU Nickel Project in Sulawesi, Indonesia.

Data re-evaluation has resulted in a significantly refined exploration target size of 25-30Mt @ 1.70-1.90% Nickel with 0.03% Cobalt and 16.2% Fe in Saprolite and 15-20Mt @ 1.10-1.30% Nickel with 0.05% Cobalt and 29.6% Fe in Limonite.

"We will have sufficient drilling done by year end to deliver a maiden, inferred resource early in 2011, targeting early commercialisation through direct shipping the high-grade nickel saprolite," Rohan Erwin, VWM’s Project Director said in the press release.

"Importantly the exploration work undertaken to date covers less than 40% of the project concession area. The remaining undrilled areas of the concession are considered to also have considerable prospectivity providing the possibility of significantly increasing the area from the currently defined exploration target areas." Rohan added.

Feasibility and Environmental Studies are in progress for Production and Operational IUP concession applications. Currently, The company is preparing the required documentation for the Notice of Meeting and the proposed date of the meeting will be announced in due course. (bintang@theindonesiatoday.com)

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