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Reserves & Resources

Mineral Resource

This summary contains all measured, indicated and inferred material at the current mine Halleys and future mining areas, Hale Bopp and Shoemaker Levy. The Inferred Mineral Resource at the exploration targets of Shoemaker Levy North and Nindilbillup have also been included in the table below.

Commissioning and start-up activities utilised ore feed from the stockpiles created by the previous owners. Some stockpiles of both Saprolite and Limonite ore still remain on surface and these are included in both the Mineral Resources and Mineral Reserve estimates. 

Mineral Resource as at December 31, 2013 Cut-off grade of 0.3% Nickel

 

 

Tonnes

Ni

Co

Fe

Al

Mg

Ca

Co3

Cu

Zn

Deposit

Classification

Mt

%

%

%

%

%

%

%

Ppm

Ppm

Halleys

Measured & Indicated

45.0 

0.72

0.03

8.6

1.1

10.3

1.1

11.8

18

71

 Inferred  6.5 0.38 0.01 6.4 0.4 15.7 1.0 12.1 13 47

Shoemaker-Levy

Measured & Indicated

176.9

0.59

0.03

12.2

1.6

5.1

1.5

12.2

34

87

 Inferred  15.0 0.44 0.02 7.8 1.5 11.3 1.7 11.0 24 59

Hale-Bopp

Measured & Indicated

25.9

0.62

0.03

10.8

1.7

8.1

0.8

14.4

24

61

 Inferred 37.6 0.55 0.03 9.5 1.5 10.7 0.4 8.0 22 56
 Nindilbillup Measured & Indicated  - - - - - - - - - -
 Inferred 31.4 0.55 0.02 11.3 2.2 4.7 0.8 8.6 74 109
 Shoemaker-Levy North  Measured & Indicated  - - - - - - - - - -
 Inferred 25.3 0.53 0.02 11.7 2.2 7.6 0.4 7.0 36 70

Total Resources


 

Measured & Indicated

247.8

0.62

0.03

11.4

1.5

6.3

1.3

12.3

30

82

Inferred

115.8

0.52

0.02

10.1

1.8

8.8

0.7

8.6

39

73

 Stockpiled Resources Measured Stockpile 3.74 0.67 0.02 8.4 0.9 9.7 1.4 18.5 - -

This 31st December 2013 Mineral Resource has been prepared and verified by Independent Consultant and qualified person, Felicity Hughes (FJ Hughes & Associates) MAIG, MAusIMM..

Mineral Reserves as defined at 31st December 2013 at $6.40/lb.


Tonnage

Ni

Co

Ca

Co3

Mg

Classification

Mt

%

%

%

%

%


Limonite Ore

  Proven Reserve

62.0

0.70

0.04

0.6

4.1

2.3

  Probable Reserve  81.8 0.60 0.03 0.8 4.6 2.5
  Total Limonite 143.8 0.64 0.03 0.7 4.4 2.4

Saprolite Ore
  Proven Reserve 36.5 0.63 0.02 2.0 15.7 11.0
  Probable Reserve 37.0 0.53 0.02 2.4 14.2 11.1
  Total Saprolite 73.6 0.58 0.02 2.2 14.9 11.1

Total Ore in Pits
  Proven Reserve 98.5 0.67 0.03 1.1 8.4 5.6
  Probable Reserve 118.8 0.58 0.03 1.3 7.6 5.2
  Total Ore 217.4 0.62 0.03 1.2 8.0 5.4

Stockpile
  Proven Reserve 3.7 0.67 0.02 1.4 18.5 8.8
  Probable Reserve
 Total Stockpile 3.7 0.67 0.02 1.4 18.5 8.8

Reserve Including Stockpil
e
  Proven Reserve  102.3  0.67  0.03  1.1  8.8  5.7
  Probable Reserve 118.8 0.58 0.03 1.3 7.6 5.2

  Total

221.1

0.62

0.03

1.2

8.1

5.4

Other  Classification  Tonnes Ni
Mt %
Beneficiated Product Proven Buffer Pond 0.24 1.6

This Mineral Reserve as at 31st December 2013 has been delineated and verified by the RNO site team and verified by independent consulting Mining Engineer, Anthony Cameron of Cameron Mining Consulting Ltd. He is a qualified person and holds the following valid qualifications: BE (Mining), Grad Dip Bus, M Comm. Law, and FAusIMM.

In additional to the stockpiles there is also an intermediate beneficiated product that is held within the processing surge or buffer ponds. At the end of December 2013 the quantity of this material was 240,000 tonnes @ 1.6 %Ni.