Weda Bay Minerals increases indicated resource estimate
Wednesday, December 6 2000 - 04:30 AM WIB
Canada's Weda Bay Minerals announced that it had increased its indicated resource estimate at its Halmahera, Indonesian project by 65.7 million dry tons (Mdt) from 67.7 Mdt to 133.4 Mdt of 1.40 percent nickel and 0.10 percent cobalt.
The company said in a press statement that this upgrade in resource status is a result of the completion of 200x200 m grid based drilling at the Santa Monica deposit.
Additional inferred resources are estimated at 70.4 Mdt at 1.29 nickel and 0.14 percent cobalt giving an aggregate resource estimate in the Weda Bay contract of work of 203.8 Mdt of 1.37 percent nickel and 0.11 percent cobalt.
This resource is contained in 11 target areas (Area 2, Uniuni Hill, Tarzan Hill, Sake River, Sake River West, Lipe River, Casuarina, Orchid, Sante Monica and Big Kahuna). (R. Amoros)