Victory Nickel Edges Closer To Yr Low After North Limb Update
Victory Nickel Inc. (NI.TO) has edged closer to an existing year low of 8 cents today after announcing that AGP Mining Consultants Inc. has completed an Exploration Target Mineralization Inventory on the North Limb mineralization at Victory Nickel's 100%-owned Minago sulphide nickel project in Manitoba. It said the ETMI demonstrates the potential, indicated by previous diamond drilling, for a significant expansion of the nickel resource exploitable by open pit over and above current known resource in the Nose Deposit.
It said: "The ETMI incorporates all the drilling done to date on the North Limb and establishes the target estimate at between 21 million and 34 million tonnes grading 0.49% to 0.59% total nickel, based on a 0.30% total nickel cutoff and 2.43 tonne/m3 bulk density. Any resources identified in the North Limb would be in addition to the known total nickel resource of 54.2 million tonnes Measured and Indicated and 14.6 million tonnes Inferred in the Minago Nose deposit."
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