Weda Bay completes additional pre-feasibility study, add new resources

Canadian miner Weda Bay Minerals on Monday announced additional feasibility studies and new resource estimates confirming a robust project on its Halmahera Island nickel/cobalt project in Indonesia.

In September the company advised that metallurgical test work completed subsequent to the PFS had demonstrated recoveries of up to 95 percent nickel from saprolite ore at atmospheric pressure.

?These results have now been incorporated into a revised pre feasibility study that incorporates saprolite neutralization of the pressure acid leach (PAL) slurry?, the company said.

Weda Bay said the scenario is based on one PAL train and an atmospheric leach process both followed by saprolite neutralization

?The results of the various studies demonstrate the Weda Bay project is robust at varying capital costs and production levels,? said the company.

The company also announced new resource The results have increased total indicated resources in the Weda Bay COW to an estimated 150.9 million dry tonnes of 1.40 percent nickel and 0.10 percent cobalt, a tonnage increase of approximately 13 percent over previously published indicated resources.

Total indicated and inferred resources increased to an estimated 216.3 Mdt of 1.37 percent nickel and 0.12 percent cobalt an increase of approximately 6 percent over previously published total resources.

The revised polygonal estimate of the Santa Monica resource incorporating results from recently completed 100 m spaced drilling and updated density data resulted in an indicated and inferred resource estimate of 72.6 million dry tonnes of 1.41 percent Ni, 0.10 percent Co, representing a tonnage decrease of approximately 8 percent over the previous estimate of 79.1 million tones

Weda Bay owns 90 percent stake at PT Weda Bay Nickel, which operates the giant nickel and cobalt prospect. The remaining 10 percent stake is held by state miner PT Aneka Tambang Tbk. (alex)