Mincor eyes growth at Miitel Nickel Mine

NICKEL producer Mincor Resources NL has announced positive initial results, which could lead to an extension to its 76 per cent owned Miitel Nickel Mine.

Almost 10,000 tonnes of contained nickel metal has been identified at the North Miitel resource, located about 700 metres north of the main Miitel orebody.

Mincor managing director David Moore said a feasibility study was under way to show if the resource was economically viable. The new indicated and inferred mineral resource for North Miitel is 252,800 tonnes at 3.9 per cent nickel or 9,960 tonnes of contained nickel metal at a 2 per cent nickel cut-off.

“The Miitel ore system just keeps getting bigger, demonstrating the potential of the Kambalda area to deliver new discoveries nearly 40 years after nickel was first found in the district,” Mr Moore said.

Over the past 12 months, Mincor’s share price has been tracking northward. It finished earlier this week at more than 30 cents, well above its 17 cent share price in February last year.