Weda Bay discovers high quality limestone resource in Halmahera

Canadian nickel explorer listed in Toronto Stock Exchange Weda Bay Minerals Inc announced Thursday the assay results from the first drill hole into the previously identified limestone resource, confirming the limestone to be of very high quality.

The company's statement said the lime stone deposit at Gunung Zohrah was estimated to be between 60 and 100 million tons.

Limestone is used in the proposed High Pressure Acid Leach (HPAL) nickel and cobalt extraction process for the neutralization of the autoclave discharge liquors and pH correction of tailings prior to disposal.

The projected limestone requirement for the operation is approximately one million tons per annum, said the statement.

"The availability of large quantities of high quality limestone in close proximity to the proposed plant site is a major asset for the Weda Bay nickel and cobalt project and will enable acid neutralization costs to be minimized," said Lou Clinton, the company's president.

Weda Bay Minerals Inc is progressing with its detailed feasibility study on its extensive nickel and cobalt laterite deposits on Halmahera Island in North Maluku province.

PT Weda Bay Mineral, which operates the mine, is 90 percent owned by Weda Bay Nickel, while the rest is owned by Indonesian state miner PT Aneka Tambang Tbk. (alex)