[ 1 ] Values for the Pt, Pd and Au components of TPM are shown on page 5. [ 2 ] All tonnages are reported as short tons.
Details in the report are as follows:
The study Technical Report includes three deposits for which mineral resources have been estimated. These deposits are in close proximity to one another within the Twin Metals Minnesota Project, and are referred to as the Maturi, Birch Lake and Spruce Road Deposits:
- Using a base case 0.3% Cu cut-off, the Maturi Deposit** contains 726 million tons of Indicated Mineral Resources grading 0.55% copper, 0.17% nickel, 0.570 parts per million TPM (TPM = Pt + Pd + Au), plus an additional 651 million tons of Inferred Mineral Resources grading 0.53% copper, 0.18% nickel, 0.521 parts per million TPM.
- Using a base case 0.3% Cu cut-off, the Birch Lake Deposit** contains 242 million tons of Inferred Mineral Resources grading 0.52% copper, 0.16% nickel, 0.83 parts per million TPM (TPM = Pt + Pd + Au).
- Using a base case 0.3% Cu cut-off, the Spruce Road Deposit** contains 480 million tons of Inferred Mineral Resources grading 0.43% copper, 0.16% nickel.*
* Note - The Spruce Road resource was estimated using Inco legacy assay data. Platinum, palladium, and gold were not assayed by Inco, and the core is not available for re-assay.** Note - These resource estimates include 100% of the identified material in each deposit, and include mineral resources acquired as a part of Twin Metals Minnesota's (TMM)'s acquisition of Franconia Minerals Corporation in 2011. Franconia's principal assets are a 70% interest in the Birch Lake, 'old' Maturi and Spruce Road deposits in northeastern Minnesota through the Birch Lake Joint Venture. Franconia announced in November, 2010 its intention to increase its ownership at the Birch Lake Joint Venture to 82%; see Franconia 's company profile at http://www.SEDAR.com for Technical Reports. TMM's ownership of the resource will be factored by these percentages where applicable. Contained metals in the new resources are as follows: