Magma Metals reports their Thunder Bay North base metal project has economic potential to be an open pit mine.
The Australian miner announced a positive preliminary economic assessment at its platinum-palladium-copper-nickel project in northwestern Ontario.
“The results of the scoping study clearly indicate that we have the basis for a robust project,” said Magma's executive chairman Keith Watkins in a Feb. 7 statement. “There is also considerable upside potential to enhance the economics of the project, particularly by increasing the mineral resource available for mining and/or reducing the capital and operating costs for mineral processing.”
AMEC Americas, which completed the scoping study, favours an open pit mine from which 10 million tonnes of material would be extracted over a seven-year mine life.
The property is 50 kilometres northeast of Thunder Bay.
.jpeg;w=120;h=80;mode=crop)
