The advanced-stage critical minerals asset, discovered by Fortune in 1996, is to be developed as an open pit and underground mine and concentrator in the Northwest Territories, along with a hydrometallurgical refinery in Alberta.
The proposed Alberta refinery would process concentrates from the future mine at the NICO project and other sources to produce cobalt sulphate, gold doré, bismuth ingots and copper.
Up to C$714,500 of the funds provided under the federal government’s Critical Minerals Research, Development and Demonstration program, will be used on Fortune’s planned cobalt sulphate process pilot and other metallurgical test work. The Alberta government has also conditionally approved funding contributions of up to C$172,670 toward the budgeted program costs.
The program will also provide samples of concentrate that could be used in future tests with material sourced under the previously announced collaboration with…
