FNX Mining Co. Inc. has discovered wide, high-grade deposits of nickel, copper and precious metals at its Victoria property near Sudbury.
The company plans to spend about $7.2 million exploring the property, located about 40 kilometres west of Sudbury, near Worthington.
The discovery is in an area, close to the newly developed Totten Mine where previous deposits have not been found, according to a company news release, sent Jan. 19.
CEO Terry MacGibbon said the find represents the company's “first significant involvement” with offset dyke type deposits, which are mined extensively in the Sudbury mining camp.
However, MacGibbon says this is only the beginning of a long exploration process.
“A great deal more work is required to fully understand this discovery and its possible economic potential. We will continue to aggressively drill the discovery throughout the year.”
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