"In that Micon Report, Micon determined resources in the Indicated category for the Langmuir North deposit are 8,324,000 tonnes grading 0.40% nickel. It further determined Resources in the Indicated Resources category for the Langmuir No. 1 deposit are 1,733,000 tonnes grading 0.51% nickel, as detailed in Table 2 of the report.
According to Micon, both deposits are amenable to open pit exploitation. This factor is highly significant in that mining costs for open pit mining are only a fraction of those for underground mining. This directly impacts the extent of ore which is economically producible. Langmuir No.1 is also partly accessible from an existing development ramp from earlier historical production.
Given the favourable ultramafic regional context in which the Langmuir deposits are found, other exploration target areas of mineralization may accompany the above described deposits either in extension and at depth or in parallel zones open at depth and in extensions and are believed to host at least an additional open-pittable 20 million tonnes of nickel mineralization of similar grades, 0.4 - 0.5% Ni.
It is anticipated that a budget of between $3.5 and $5 M in additional exploration expenditures will be necessary to increase the current resource and to continue exploration on the extension and on parallel nickel targets of the property."
Let's not forget L2 either:
"The drilling consistently encountered 3 distinct zones of high-grade nickel mineralization surrounded by lowergrade nickel mineralization haloes. The nickel-bearing mineralization is hosted by serpentinized, spinifex-textured peridotitic komatiite. Sulphide concentration ranges from 5% (disseminated) to 30% (rounded blebs). The lowgrade nickel mineralization haloes have an averaged true with of 22 meters to 44 meters with 50 meters to 75 meters strike length in which the zone widens at depth (approximately 100 meters to 125 meters below surface) to 75 meters to 117 meters true width. The low-grade mineralized haloes range up to 0.769% nickel while narrow highgrade mineralization sections from 1 meter up to 10.5 meters true widths typically assays between 1% to 4% nickel.
