TORONTO, January 7, 2014 /PRNewswire/ --
- Pre-feasibility completion scheduled for mid-year, 2014.
- A new comprehensive NI 43-101 compliant Technical Report on the Pre-Feasibility Study is scheduled for completion by mid-year, 2014.
- In addition, a NI 43-101 compliant Technical Report on an updated Resource for the project will be completed by Spring, 2014.
Duluth Metals Limited ("Duluth Metals") (TSX: DM) (TSX: DM.U) is pleased to announce that the Twin Metals Minnesota Project ("Twin Metals") Pre-feasibility is progressing well with a completion date scheduled for mid-year 2014. Over the next few months, the main focus is the completion of the Pre-feasibility Study and delivering by mid-year a comprehensive NI 43-101 compliant Technical Report on this phase of the project development. In addition, a NI 43-101 compliant Technical Report on an updated resource estimate for the project is scheduled to be completed by Spring, 2014. The updated resource estimate will incorporate all drilling since September 2012, including the 35 closely spaced diamond drill holes within the Maturi Deposit designed to provide the Joint Venture team the necessary information to define the drill spacing required to upgrade Indicated to Measured Resource within the resource base (see Duluth Metals press release dated Dec 6, 2013, "Duluth Metals Announces Results from Twin Metals Fence Drilling Program").
The Twin Metals copper-nickel-platinum-palladium-gold project is being developed by joint venture partners Antofagasta plc and Duluth Metals. Over the last year, Twin Metals has concentrated on optimizing the project in every dimension, including:
- Mine planning, including a detailed mining plan utilizing large scale underground mining methods
- Metallurgy, including detailed analysis of selective flotation and downstream processing
- Various milling capacity options
- Surface facility definition and planning
- Environmental studies and planning
- Marketing studies for various products