FPX has given previous nickel grades in terms of Davis tube recoverable (DTR) amounts, and the current grades are 0.129% nickel in the indicated resource and 0.131% nickel in the inferred resources. Under those parameters, the indicated portion of the deposit contains 5.37 billion lb. nickel and 978.9 million lb. nickel, respectively. The new numbers represent higher DTR nickel grades – 6% in the indicated category and 15% in the inferred category.
Grades for cobalt and iron are also given as DTR grades and amounts. The indicated resource grade is 0.0035% cobalt (containing 142.0 million lb.) and 2.40% iron (containing 43,500 tonnes). The inferred resource is 0.0037% cobalt (containing 27.6 million lb.) and 2.55% iron (containing 8,600 tonnes).
“The new mineral resource estimate highlights the potential for improved project economics owing to a material increase in DTR nickel grade and new opportunities for recovery of cobalt…
